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 38,000 units of its product at a price of $13 each during the year. : (Click the icon to view the amounts.) 9 (Click the icon to view the schedule.) i Data Table West Nautical Company Income Statement For Last Year West Nautical's Die-Cuts Schedule of Cost of Goods Manufactured Cost of goods sold: $ 51,000 Beginning work in process inventory Add: Direct materials used Beginning raw materials inventory Purchases of direct materials $ 27,000 85,000 Available for use 112,000 (36,000) Ending raw materials inventory Operating expenses: Direct materials used $ 76,000 88,000 Direct labour Manufacturing overhead: Total operating expenses Indirect labour $ Operating income Insurance on plant Depreciation-plant building and equipment 22,000 9,000 18,000 8,000 Repairs and maintenance-plant 57,000 221,000 Total manufacturing costs incurred during the year Total manufacturing costs to account for Less: Ending work in process inventory 272.000 (41,000) Choose from any list or enter any number in the input fields and then continue to the next question. $ 231,000 Cost of goods manufactured Data Table Beginning End End of Year of Year of Year Raw materials inventory ........ $ 27,000 $ 36,000 Insurance on plant......... $ 36,000 Insurance on plant..................$ 9,000 Work in process inventory 51,000 41,000 Depreciation-plant building Finished goods inventory ........ 22,000 32,000 and equipment and equipment ................ 18,000 Purchases of direct materials 85,000 Repairs and maintenance-plant.......... 8,000 Direct labour 88,000 Marketing expenses ............... 86,000 Indirect labour . 22,000 General and administrative expenses... 33,000