Instructions Jasper Company provided the following information for last year: Costs Amount Sales in units Selling price 325,000 $12 $171,000 Direct materials $505,000 Direct labor Manufacturing overhead $110,000 $433,000 Selling expense Administrative expense $869,000 Last year, beginning and ending inventories of work in process and finished goods equaled zero. Required: 1. Calculate the sales revenue for last year. 2. Prepare an income statement for Jasper for last year. Labels and Amount Descriptions Refer to the list below for the exact wording of a label or an amount description within your income statement. Labels Add For the Last Year For the Next Year Less Amount Descriptions Administrative expense Cost of goods manufactured Cost of goods sold Gross profit Operating income Operating loss Sales revenue Selling expense Sales Revenue 1. Calculate the sales revenue for last year. The sales revenue for last year is $ Income Statement 2. Prepare an income statement for Jasper for last year. Refer to the list of Labels and Amount Descriptions for the exact wording of text items within your income statement. Be sure to complete the statement heading. Jasper Company Income Statement (Label) (Label)