Following are the selected account balances of Badger Company: Sales Raw materials inventory. Dec. 31, 2012 Goods in process inventory, Dec. 31, 2012 Finished goods inventory, Dec. 31, 2012 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense $1,436,000 40,000 52,800 61,500 154,300 241,000 18,400 55,000 5,250 60,000 82,000 General and administrative expenses Raw materials inventory, Dec. 31, 2013 128,000 44,600 Goods in process inventory, Dec. 31, 2013 Finished goods inventory, Dec. 31, 2013 38,900 71,000 Prepare an income statement for Badger Company (a manufacturer). Assume cost of goods manufactured is $543,250. BADGER COMPANY Income Statement For Year Ended December 31, 2013 $ 543,250 Sales Cost of goods sold Goods in process inventory, December 31, 2013 S 71,000 Cost of goods manufactured Cost of goods available for sale 71,000 Less: Finished goods inventory, December 31, 2013 71,000 Cost of goods sold 0 Operating expenses