Prepare the income statement for West Nautical 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 35,000 units of its product at a price of $12 each during the year (Click to view the amounts Click the soon to view the calculation of cost of goods manufactured (Click the icon to view the calculation of cost of goods sold) La Less West Nautical Company Income Statement For Current Year Clear all Check answer cost of goods manufactured:) cost of goods sold.) Data table Com eme Yea - X Beginning End of of Year Year Raw materials inventory $ 29,000 $ 33,000 Insurance on plant Work in process inventory S 37,000 $ 30,000 Depreciation-plant building and equipment Finished goods inventory $ 20,000 $ 22,000 Repairs and maintenance-plant End of Year $ 10,000 ...$ 13,300 $ 3,500 Purchases of direct materials $ 70,000 Marketing expenses $ 82,000 Direct labor... $ 87,000 General and administrative expenses $ 25,500 Indirect labor $ 46,000 Print Done f goods manufactured goods sold.)) at any Reference West Nautical Industries Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory Plus: Manufacturing costs incurred Direct materials used Direct labor Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured (CGM) Print Done $ 37,000 - X $ 66,000 87,000 72.800 262,800 30,000 232.800 goods sold.) any Reference West Nautical Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning finished goods inventory Plus: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold Print Done I $ 20,000 232,800 252,800 22,000 $ 230,800