Omar, Inc. reports the following information pertaining to its operating activities: During the year, the company purchased $70,000 of direct materials and incurred $44,000 of direct labor costs. Total manufacturing overhead costs for the year amounted to $38,000. Selling and administrative expenses amounted to $60,000, and the company's annual sales amounted to $160,000. Prepare Omar, Inc. schedule of the cost of finished goods manufactured. Prepare Omar, Inc. income statement (ignore income taxes)