Far Rockaway Manufacturing, a manufacturer of parts for diesel engines, provides the following financial information for the most recent fiscal year.

Inventories:

As of January $1$:

Direct materials $8,000$

Work$-$in$-$process $11,000$

Finished Goods $21,000$

As of December $31$:

Direct materials $16,000$

Work$-$in$-$process $6,000$

Finished Goods $36,000$

Other amounts $($for the year$)$:

Administrative costs $60,000$

Direct labor $72,000$

Direct material purchases $120,000$

Indirect plant labor $10,000$

Indirect plant supplies $6,000$

Machine depreciation $4,500$

Marketing costs $135,000$

Plant depreciation $12,000$

Plant supervision $50,000$

Plant utilities $7,500$

Property taxes on plant and equipment $10,000$

Sales revenue $615,000$

Required:

Prepare an Income Statement WITH a supporting Cost of Goods Sold Statement.