Manufacturing costs for Davenport Company during 2018 were as follows: Beginning Finished Goods, January 1 $ 24,400 Beginning Raw Materials, January 1 35,800 Beginning Work in Process, January 1 110,600 Direct Labor for the current year 275,600 Ending Finished Goods, December 31 22,700 Ending Raw Materials, December 31 40,400 Ending Work in Process, December 31 120,900 Material Purchases for the current year(including $16,500 of indirect material) 304,500 Note: The pre-determined overhead rate is 0.78 (78%) of direct labor cost. Required: Prepare a Cost of Goods Manufactured report. Prepare a Partial Income Statement if sales revenue was $1,280,000 and operating expenses were $225,000 for the current year