please full out the income statement
Prepare the income statement for Quality Aquatic Company for the most recent year. Use the calculation o each during the year. Click the icon to view the amounts.) (Click the icon to view the calculation of cost of goods manufactured.) (Click the icon to view the calculation of cost of goods sold.) Quality Aquatic Company Income Statement For Current Year Less: Less: Quality Aquatic Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory $ 20,000 221,600 Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory 241,600 23,000 Cost of goods sold $ 218,600 Quality Aquatic Industries Calculation of Cost of Goods Manufactured For Current Year $ 38,000 Beginning work in process inventory Plus: Manufacturing costs incurred Direct materials used $ 66,000 Direct labor 83,000 61,600 Manufacturing overhead Total manufacturing costs to account for 248,600 27,000 Less: Ending work in process inventory $ 221,600 Cost of goods manufactured (CGM) End of Year Raw materials inventory Work in process inventory Finished goods inventory. Purchases of direct materials Direct labor Beginning End of of Year Year 21,000 $ 28,000 Insurance on plant 38,000 $ 27,000 Depreciation-plant building and equipment 20,000 $ 23,000 Repairs and maintenance-plant $ 73,000 Marketing expenses $ 83,000 General and administrative expenses 37,000 $ 7,500 $ 13,300 3,800 $ 75,000 $ 26,500 Indirect labor Prepare the income statement for Quality Aquatic Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 33,000 units of its product at a price of $10 each during the year. Click the icon to view the amounts.) (Click the icon to view the calculation of cost of goods manufactured.) (Click the icon to view the calculation of cost of goods sold.)