Given the following selected account balances of Sunny Manufacturing, prepare (a) its schedule of cost of goods manufactured and (b) its income statement for the year ended December 31.

Sales	$ 2,500,000
Raw materials inventory, beginning	74,000
Work in process inventory, beginning	107,800
Finished goods inventory, beginning	125,500
Raw materials purchases	351,200
Direct labor	450,000
Indirect labor	94,000
Repairs Factory equipment	46,180
Rent cost of factory building	114,000
Selling expenses	188,000
General and administrative expenses	258,600
Raw materials inventory, ending	85,400
Work in process inventory, ending	83,000
Finished goods inventory, ending	134,600

Sunny Manufacturing Cost of goods Manufactured 31-Dec \begin{tabular}{|l|l|l|} \hline Direct Material Used & & \\ \hline Beginning Raw material & & \\ \hline Raw Material purchased & & \\ \hline Raw material Available for use & & \\ \hline Ending Raw Material & & \\ \hline Total Raw Material Used & & \\ \hline & & \\ \hline Direct Labor & & \\ \hline & & \\ \hline Factory Overhead & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total Factory Overhead & & \\ \hline Total Manufacturing Cost & & \\ \hline Add: Beginning Goods in Process & & \\ \hline Total Cost of Goods in Process & & \\ \hline Less: Ending Goos in Process & & \\ \hline Cost of Goods Manufactured & \\ \hline \end{tabular} Sunny Manufacturing Income Statement 31-Dec \begin{tabular}{|l|l|l|} \hline Net Sales Revenue & & \\ \hline Cost of Goods Sold & & \\ \hline Beginning Finished Inventory & & \\ \hline Add: Cost of Goods Manaufactured & & \\ \hline Cost of Goods available for sale & & \\ \hline Less: Ending Finished Goods Inventory & & \\ \hline Cost of Goods Sold & & \\ \hline Gross Profit & & \\ \hline General and Administrative Expenses & & \\ \hline Selling Expenses & & \\ \hline & & \\ \hline Total Selling and Administrative expenses & & \\ \hline Net Income before taxes & & \\ \hline Income taxes & & \\ \hline Net Income after tax & & \\ \hline \end{tabular}