Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, January 1 Beginning Raw Materials, January 1 Beginning Work in Process, January 1 Direct Labor for the current year Ending Finished Goods, December 31 Ending Raw Materials, December 31 Ending Work in Process, December 31 Material Purchases for the current year (including $22,500 of indirect material) $ 25,600 37,000 111,800 276,800 23,900 41,000 122,100 305,700 Note: The pre-determined overhead rate is 0.90 (90%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,400,000 and operating expenses were $285,000 for the current year.