Income Statement Kelly Metal Products Corporation sold 36,000 units of product for $43 each during 2016. During the year 18,000 shares of common stock were outstanding Kelly Metal Products Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory $57,600 Cost of materials purchased 378,000 Cost of material available 435,600 Less: Ending materials Inventory 39,600 Total materials used 396,000 Less: Indirect material used 23,400 Direct materials used $372,600 Direct labor 243,000 Manufacturing overhead Indirect material 23,400 Indirect labor 45,000 Factory supplies used 21,600 Factory depreciation 140,400 Factory repairs and maintenance 50,400 Total man acturing overhead 280,800 Total manufacturing costs for the year 896,400 Add: Beginning work in process inventory CAL 61,200 BE Add: Beginning work in process inventory 61,200 Total cost of work in process during the year 957,600 Less: Ending work in process inventory 81,000 Cost of goods manufactured 876,600 Add: Beginning finished goods inventory 37,800 Cost of goods available for sale 914,400 Less: Ending finished goods inventory 32,400 Cost of goods sold $882,000 Selling expenses (total) $113,400 Non-factory administrative expenses (total) 102,600 Prepare an income statement for the year (ignore income taxes). Calculate earnings per share. Do not use negative signs with answers. Round earnings per share to two decimal places. Kelly Metal Products Corporation Income Statement For the Year Ended December 31,2016 $ of > 0 O 0 $ 0 $ Earnings per share of common stock $ 0 Cuorallart of the mortion