Finish the income statement

Manufacturing Income Statement, Statement of Cost of Goods Manufactured Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December: On off Company Company Materials inventory, December 1 $78,310 $60,240 (a) Materials inventory, December 31 88,490 Materials purchased 153,010 (a) Cost of direct materials used in production 161,440 (b) Direct labor 227,100 176,200 70,480 87,710 (b) 506,670 574,680 574,680 115,660 188,730 97,590 (c) Factory overhead Total manufacturing costs incurred in December Total manufacturing costs Work in process inventory, December 1 Work in process inventory, December 31 Cost of goods manufactured Finished goods inventory, December 1 Finished goods inventory, December 31 Sales Cost of goods sold 501,970 101,810 87,710 106,620 (d) 887,940 783,100 (d) 506,670 Gross profit (e) (e) Operating expenses 115,660 (f) Net income (f) 173,850 Required: 1. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers. Letter On Company Off Company a. b. $ $ C. $ d. $ e. $ $ $ f. 2. Prepare On Company's statement of cost of goods manufactured for December. On Company Statement of Cost of Goods Manufactured For the Month Ended December 31 Work in process inventory, December 1 Direct materials: Materials inventory, December 1 Purchases Cost of materials available for use Materials inventory, December 31 Cost of direct materials used in production Direct labor Factory overhead Total manufacturing costs incurred during December Total manufacturing costs Work in process inventory, December 31 h Cost of goods manufactured $ 3. Prepare On Company's income statement for December. On Company Income Statement For the Month Ended December 31 Sales Cost of goods sold: Finished goods inventory, December 1 Cost of goods manufactured Cost of finished goods available for sale Finished goods inventory, December 31 Cost of goods sold Gross profit Operating expenses Net income