General Electric:

Cost Elements	Amount ($)
Direct Materials	1,060,000
Direct Labor	860,000
Factory Overheads	820,000
Selling and Distribution Expenses	460,000
Administrative Expenses	420,000
Units Produced and Sold	90,000 units
Sales Revenue	4,500,000

Requirements:

1. Prepare a cost of goods manufactured statement.
2. Calculate the cost of goods sold.
3. Compute the gross profit.
4. Determine the net profit.