Prepare the income statement for Strike Gold 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 31,000 units of its product at a price of $11 each during the year. m(Click the lcon to view the amounts) (Click the lcon to view the calculation of cost of goods manufactured.) (Click the icon to view the calculation of cost of goods sold) Strike Gold Company Income Statement For Current Year Sales revenues Cost of goods sold Less Gross proft Operating expenses Less Choose from any list or enter any number in the input fields and then continue to the next question Data Table X Beginning End of End of of Year Year Year Raw materials inventory 29,000 S 32,000 Insurance on plant.. $ 10,500 Work in process inventory S 40,000 $ 36,000 Depreciation-plant building and equipment 12,900 Finished goods inventory 16,000 S 23,000 Repairs and maintenance-plant 4,000 Purchases of direct materials S 72,000 Marketing expenses $ 75,000 Direct labor Indirect labor General and administrative expenses S 88,000 $ 22,500 S 46,000 Print Done iReference Strike Gold Industries Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory $ 40,000 Plus: Manufacturing costs incurred Direct materials used 69,000 Direct labor 88,000 73,400 Manufacturing overhead Total manufacturing costs to account for 270,400 36,000 Ending work in process inventory Less: Done Print - X iReference Strike Gold Manufacturing Calculation of Cost of Goods Sold For Current Year $ 16,000 Beginning finished goods inventory 234,400 Plus: Cost of goods manufactured 250,400 Cost of goods available for sale 23,000 Ending finished goods inventory Less: 227,400 Cost of goods sold Done Print