E2-26A Compute Cost of Goods Manufactured and Cost of Goods Sold (Learning Objective 5) Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautica Company for the Raw Materials Inventory contains only direct materials. most recent year using the amounts described next. Assume that the End of Year $ 11,500 Beginning End of Year of Year ry$23,000 $25,000 Raw materials inventory. in process inventory$35,000 $31,000 Depreciation-plant building and equipment..s 13,400 $20,000 $22,000 Repairs and maintenance-plan.. Purchases of direct materials.... Direct labor Indirect labor.... $74,000 $86,000 $42,000 Marketing expenses.. General and administrative expenses... $77,000 $ 28,500 E2-27A Continues E2-26A: Prepare income statement (Learning Objective 5) Prepare the income statement for West Nautical Company in E2-26A for the most recent year. Assume that the company sold 34,000 units of its product at a price of $12 each during the year