E2-27A (similar to) Prepare the income statement for Strike Gold Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 34,000 units of its product at a price of $11 each during the year. Click the icon to view the announts.) (Click the icon to view the calculation of cost of goods manufactured.) (Click the icon to view the calculation of cost of goods sold.) Strike Gold Company Income Statement For Current Year Sales revenues Less: Cost of goods sold Gross profit Less Operating expenses Marketing expenses General and administrative expenses Ince (0/1 Operating income how in the innut fields and then click Check Answer Data Table End of Year Beginning End of of Year Year 28,000 $ 33,000 Insurance on plant $ 41,000 $ 37,000 Depreciation-plant building and equipment $ 16,000 $ 24,000 Repairs and maintenance-plant $ 70,000 Marketing expenses $ 89,000 General and administrative expenses $ 39,000 $ 8,500 $ 12,600 3,800 Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct labor $ 84,000 $ 27,500 Ma Indirect labor nc Print Done i Reference - x Strike Gold Industries Calculation of Cost of Goods Manufactured For Current Year $ 41,000 $ 65,000 Beginning work in process inventory Plus: Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory 89,000 63,900 258,900 37,000 $ 221,900 Cost of goods manufactured (CGM) Print Done i Reference Strike Gold Manufacturing Calculation of Cost of Goods Sold For Current Year $ 16,000 221,900 Beginning finished goods inventory Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold 237,900 24,000 213,900 Print Done