ExxonMobil Corporation provided the following data for the year 2023:

• Raw Materials Purchased: $19,000,000
• Direct Labor: $12,000,000
• Manufacturing Overhead: $11,500,000
• Beginning Raw Materials: $2,500,000
• Ending Raw Materials: $2,600,000
• Beginning Work in Process: $2,700,000
• Ending Work in Process: $2,800,000
• Beginning Finished Goods: $5,000,000
• Ending Finished Goods: $5,100,000
• Sales Revenue: $130,000,000
• Selling and Administrative Expenses: $14,000,000

Requirements:

1. Prepare a schedule of cost of goods manufactured.
2. Calculate the cost of goods sold.
3. Determine the gross profit.
4. Prepare an income statement for ExxonMobil Corporation.