Prepare the income statement for West Nautical Company, for the most recent year, using the amounts and the schedule of cost of goods manufactured below. Assume that the company sold 35,000 units of its product at a price of $14 each during the year. (Click the icon to view the amounts.) (Click the icon to view the schedule.) CHE Data table Raw materials inventory Work in process inventory Finished goods inventory Purchases of direct materials... Direct labour Indirect labour Beginning. End of Year of Year $ 29,000 $ 35,000 Insurance on plant 51,000 43,000 Depreciation-plant building 27,000 31,000 and equipment 84,000 Repairs and maintenance-plant ******. 84,000 Marketing expenses 15,000 General and administrative expenses ***** End - of Year $ 13,000 14,000 6,000 100 34,000 X Data table West Nautical's Die-Cuts Schedule of Cost of Goods Manufactured Beginning work in process inventory Add: Direct materials used Beginning raw materials inventory Purchases of direct materials Available for use Ending raw materials inventory Direct materials used Direct labour Manufacturing overhead: $ 29,000 84,000 113,000 (35,000) $ 78,000 84,000 $ 51,000 Data table Ending raw materials inventory Direct materials used Direct labour Manufacturing overhead: Indirect labour Insurance on plant Depreciation-plant building and equipment Repairs and maintenance-plant Total manufacturing costs incurred during the year Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured (35,000) $ 15,000 13,000 14,000 6,000 $ 78,000 84,000 48,000 210,000 261,000 (43,000) $ 218,000