M Prepare in good presentation statement of income for the year Millville Company: Inventories: July 1, 19A June 30, 19B Finished goods.......... 10.000 $28,000 Work in process......... 304,000 36,000 Materials ........... 40,000 48,000 Sales discounts. Purchase discounts ................ Sales ............... Purchase returns and allowances ...... Depreciation-factory machinery ...... Factory insurance. ...... Freight out .......... Other factory expenses .......... Bond interest expense ........... Sales salaries................ Freight in............... Direct factory labor ........ Materials purchases ....... Advertising expense........ $ 8,000 3,200 1,800,000 20,000 160,000 50,000 8,000 16,000 50,000 100,000 12,000 800,000 400,000 12,000