Homework: Ch 2 HW Score: 0 of 2 pts E2-27A (book/static) Save 10 of 10 (8 complete) HW Score: 69.23%, 9 of 13 pts Question Help Prepare the income statement for West Nautical Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 34,000 units of its product at a price of $12 each during the year. EE! (Click the icon to view the amounts.) Data Table (Click the icon to view the calculation of cost of goods manufactured.) Click the icon to view the calculation of cost of goods sold.) End of Year $ 11,500 Income Statement Beginning End of For Current Year of Year Year Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials Direct labor Indirect labor $ 23,000 25,000 Insurance on plant. $ 35,000 S 31,000 Depreciation plant building and equipment .. . .$ 13,400 $ 20,000 22,000 Repairs and maintenance-plant Less: S 74,000 Marketing expenses. 5 86,000 General and administrative expense:s $ 3.700 $ 77,000 $ 28,500 Less: 42,000 Print Done Choose from any list or enter any number in the input fields and then click Che Score: 0 of 2 pts 10 of 10 (8 complete) HW Score: 69.23%, 9 of 13 pt E2-27A (book/static) Prepare the income slatement for West Nautical Company for the most recent year. Use the calculation of cost of goods sold, 34,000 units of its q Reference EEB (Click the icon to Reference (Click the icon to (Click the icon to West Nautical Industries Calculation of Cost of Goods Manufactured For Current Year West Nautical Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning work in process inventory 35,000 Plus Manufacturing costs incurred Beginning finished goods inventory Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold 20,000 232,600 252,600 22.000 $230,600 72,000 86,000 70,600 263,600 31,000 232,600 Direct materials used Direct labor Manufacturing overhead Less Less: Tolal manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured (CGM) Print Done Choose from any list Print Done