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 33,000 units of its product at a price of $10 each during the year. a (Click the icon to view the amounts.) 5 (Click the icon to view the calculation of cost of goods manufactured.) 3 (Click the icon to view the calculation of cost of goods sold.) West Nautical Company Income Statement For Current Year Less: E Less: : Q 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 33,000 units of its product at a price of $10 each during the year. 0 Data Table Beginning End of End of of Year Year Year Raw materials inventory $ 21,000 $ 26,000 Insurance on plant .......... $ 7,000 Work in process Depreciation-plant building and inventory ............ $ 37,000 $ 31,000 equipment ................. $ 13,000 Finished goods inventory $ 14,000 $ 24,000 Repairs and maintenance-plant .. $ 3,800 Purchases of direct materials $ 76,000 Marketing expenses .......... $ 78,000 General and administrative expenses ................. $ 29,500 Prepare the income statement for West Nautical Company for the most recent vear Use the calculation of cost of goods so 3,000 units of its Reference X (Click (Click E (Click West Nautical Industries Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory $ 37,000 Plus: Manufacturing costs incurred Direct materials used $ 71,000 Less: Direct labor 88,000 Manufacturing overhead 61,800 Less: Total manufacturing costs to account for 257,800 Less: Ending work in process inventory 31,000 $ 226,800 Cost of goods manufactured (CGM) Print DonePrepare 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 33.000 units of its product at a price of $10 each during the year. West Nautical Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning nished goods inventory 14,000 Plus: Cost of goods manufactured 226'800 Cost of goods available for sale 240,800 Less: Ending nished goods inventory 24'000 Cost of goods sold 216.300