Kildeer Company makes easels for artists. During the last calendar year, a total of 35,000 easels were made, and 36,000 were sold for $60 each. The actual unit cost is as follows: Direct materials $15.00 Direct labor 6.00 Variable overhead 8.00 Fixed overhead 16.00 Total unit cost $45.00 The selling expenses consisted of a commission of $0.90 per unit sold and advertising co-payments totaling $91,500. Administrative expenses, all fixed, equaled $179,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was $162,000 for 3,600 easels. Required: 1. Calculate the number and the dollar value of easels in ending finished goods inventory. Ending units Dollar amount 2. Prepare a cost of goods sold statement. Kildeer Company Statement of Cost of Goods Sold For the Year Ended December 31 Cost of goods manufactured Add: Beginning finished goods inventory 162,000 Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold 3. Prepare an absorption-costing income statement. In addition to dollar amounts, enter the amounts as a percent, rounded to two decimal places. For example, .5235 would be 52.35% and you would enter 52.35 as your answer. Kildeer Company Income Statement: Absorption Costing For the Year Ended December 31 Percent Sales $ 2,160,000 Cost of goods sold Gross margin Less operating expenses: Commissions 32,400 Advertising co-pays 91,500 Administrative expenses 179,000 Operating income