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 $17,000 of indirect material) $ 24,500 35,900 110,700 275,700 22,800 40,450 121,000 304,600 Note: The pre-determined overhead rate is 0.79 (79%) of direct labor cost. Required: 1. Prepare a Cost of Goods Manufactured report. 2. Prepare a Partial Income Statement if sales revenue was $1,290,000 and operating expenses were $230,000 for the current year.