For the year ended December 31, 2022, the job cost sheets of Crane Company contained the following data.

Job Number		Explanation		Direct Materials		Direct Labor		Manufacturing Overhead		Total Costs
7640		Balance 1/1		$26,000		$24,960		$29,952		$80,912
		Current years costs		31,200		37,440		44,928		113,568
7641		Balance 1/1		11,440		18,720		22,464		52,624
		Current years costs		44,720		49,920		59,904		154,544
7642		Current years costs		60,320		57,200		68,640		186,160

Other data:

1.		Raw materials inventory totaled $15,600 on January 1. During the year, $145,600 of raw materials were purchased on account.
2.		Finished goods on January 1 consisted of Job No. 7638 for $90,480 and Job No. 7639 for $95,680.
3.		Job No. 7640 and Job No. 7641 were completed during the year.
4.		Job Nos. 7638, 7639, and 7641 were sold on account for $551,200.
5.		Manufacturing overhead incurred on account totaled $124,800.
6.		Incurred depreciation on factory machinery $8,320.
7.		Assigned indirect materials of $14,560 and indirect labor of $18,720.

Prepare an income statement through gross profit for 2022.

CRANE COMPANY Income Statement (partial) choose the accounting period For the Year Ended December 31, 2022December 31, 2022For the Month Ended December 31, 2022
select an income statement item Cost of Goods ManufacturedCost of Goods SoldFinished Goods, December 31Gross ProfitSales RevenueDirect Materials UsedDirect LaborOverapplied OverheadUnderapplied OverheadJob 7638Job 7639Job 7641				$enter a dollar amount
select an opening section name Cost of Goods ManufacturedCost of Goods SoldFinished Goods, December 31Gross ProfitSales RevenueDirect Materials UsedDirect LaborOverapplied OverheadUnderapplied OverheadJob 7638Job 7639Job 7641
select between addition and deduction AddLess:
select an income statement item Cost of Goods ManufacturedCost of Goods SoldFinished Goods, December 31Gross ProfitSales RevenueDirect Materials UsedDirect LaborOverapplied OverheadUnderapplied OverheadJob 7638Job 7639Job 7641		$enter a dollar amount
select an income statement item Cost of Goods ManufacturedCost of Goods SoldFinished Goods, December 31Gross ProfitSales RevenueDirect Materials UsedDirect LaborOverapplied OverheadUnderapplied OverheadJob 7638Job 7639Job 7641		enter a dollar amount
select an income statement item Cost of Goods ManufacturedCost of Goods SoldFinished Goods, December 31Gross ProfitSales RevenueDirect Materials UsedDirect LaborOverapplied OverheadUnderapplied OverheadJob 7638Job 7639Job 7641		enter a dollar amount
		enter a subtotal of the three previous amounts
select between addition and deduction AddLess: select an income statement item Cost of Goods ManufacturedCost of Goods SoldFinished Goods, December 31Gross ProfitSales RevenueDirect Materials UsedDirect LaborOverapplied OverheadUnderapplied OverheadJob 7638Job 7639Job 7641		enter a dollar amount		enter a total amount for this section
select a closing name for this statement Cost of Goods Available for SaleCost of Goods ManufacturedCost of Goods SoldFinished Goods, May 1Finished Goods, May 31Gross ProfitSales RevenueWork in Process, May 1Work in Process, May 31Raw Materials, May 1Raw Materials, May 31Total Work in ProcessManufacturing Overhead AppliedTotal Manufacturing CostsDirect LaborDirect Materials Used				$enter a total amount for this statement