Mason Company provided the following data for this year: Sales $ $655,000$ Direct labor cost $ $83,000$ Raw material purchases $ $132,000$ Selling expenses $ $101,000$ Administrative expenses $ $43,000$ Manufacturing overhead applied to work in process $ $223,000$ Actual manufacturing overhead costs $ $207,000$ Inventories Beginning Ending Raw materials $ $8,600$ $ $10,500$ Work in process $ $6,000$ $ $21,000$ Finished goods $ $71,000$ $ $25,900$ Required: Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare an income statement.