January 1, 2022 2022 December 31, 2022 Raw materials inventory $24,800 $36,000 Work in process inventory 16,800 20,800 Finished goods inventory 32,600 25,200 Materials purchased $180,000 Direct labor Manufacturing overhead Sales revenue 264,000 216,000 1,092,000 Prepare an income statement through gross profit. Finished Goods Inventory, Jan. 1 Cost of Goods Manufactured TEAL MOUNTAIN COMPANY Income Statement (Partial) For the Year Ended December 31, 2022 Gross Profit Finished Goods Inventory, Dec. 31 32600