please complete the income statement! I will make sure to rate your answer, thanks in advance!

H UU UN Come Statement Technology Accessories Inc. is a designer, manufacturer, and distributor of accessories for consumer electronic products. Early in 2083, the company began production of a leather cover for tablet computers, called the Leather. The cover is made of stitched leather with a velvet interior and fits snugly around most tablet computers. In January, $772,000 was spent on developing marketing and advertising materials. For the first six months of 2013, the company spent an additional $1,408,000 promoting the Leather. The product was ready for manufacture on January 21, 20Y3. Technology Accessories Inc. uses a job order cost system to accumulate costs for the Leather. Direct materials unit costs for the Leather an as follows: Leather Velvet $10.00 5.00 0.40 Packaging Total $15.40 The actual production process for the iLeather is fairly straightforward. First, leather is brought to a cutting and stitching machine. The machine cuts the leather and stitches an exterior edge into the product. The machine requires one hour per 125 Leathers After the iLeather is cut and stitched, it is brought to assembly, where assembly personnel affix the velvet interior and pack the Leather for shipping. The direct labor cost for this work is $0.50 per unit. The completed packages are then sold to retail outlets through a sales force. The sales force is compensated by a 20% commission on the wholesale price for all sales. Total completed production was 510,000 units during the year. Other information is as follows: Number of iLeather units sold in 2093 470,000 Wholesale price ner unit can Previous Total completed production was 510,000 units during the year. Other information is as follows: Number of iLeather units sold in 2093 470,000 Wholesale price per unit $40 Factory overhead cost is applied to jobs at the rate of $1,250 per machine hour. There were an additional 22,000 waiting to be assembled on December 31, 2013. In your computations, if required, round interim per unit costs to two decimal places and final answer dollar. Required: 1. Prepare an annual income statement for the iLeather product. Technology Accessories Inc. Income Statement For the Year Ended December 31, 20Y3 Selling Expenses: Required: 1. Prepare an annual income statement for the ILeather product. Technology Accessories Ine. Income Statement For the Year Ended December 31, 2013 Selling Expenses: Total Selling Expenses 2. Determine the balances in the finished goods and work in process inventories for the iLeather product on December Finished Goods Work in Process