Jax company produces chemical used in food preservatives. For 2021, the company has provided the following information. Inventories: Work in process (January 1) Work in process (December 31) Finished Good (January 1) (24000 units) Finished Goods (December 31) (12000 units) Direct material (January 1) Direct material (December 31) Direct Material used Direct labor Plant depreciation Production supervisor salary Indirect labor Factory utilities Sales commission Sales supervisor salary Factory equipment depreciation Administration expenses Supplies (50% factory, remaining office) $13,250 $13,250 $170,000 $85,000 $15,600 $14,000 $120,000 $72,000 $9,500 $45,000 $36,000 $5,700 $66,000 $40,000 $25,000 $52,000 $4,000 Jax produces 100,000 units in 2021 and sold 127,000 priced at $6 per unit. Required: (1) Prepare a statement of cost of goods manufactured. (2) Prepare an income statement