Direct labour $30,000 Sales 400,000 Selling expenses 50,000 Raw (direct) materials on hand: January 1 8,000 December 31 4,000 General and administrative expenses 18,000 Finished goods: January 1 25,000 Work-in-process: \begin{tabular}{l|r|} \hline \multicolumn{1}{l}{ January 1} & 19,000 \\ \hline December 31 & 18,000 \\ \hline Direct materials purchases & 47,000 \\ \hline Depreciation: factory & 20,000 \\ \hline Indirect labour & 3,000 \\ \hline Indirect materials used & 7,000 \\ \hline Marketing promotions & 1,500 \\ \hline Factory taxes & 11,000 \\ \hline Utilities & 20,000 \\ \hline Courier costs (office) & 900 \\ \hline Miscellaneous plant overhead & 4,000 \\ \hline Plant repairs and maintenance & 9,000 \\ \hline Customer service costs & 3,000 \\ \hline Fire insurance: factory equipment & 3,000 \\ \hline Materials handling costs & 8,000 \\ \hline \end{tabular} Required: 1. Prepare a schedule of cost of goods manufactured for the year ended December 31. 2. Prepare a schedule of cost of goods sold. 3. Prepare an income statement for the year ended December 31