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 38,000 units of its product at a price of $11 each during the year. (Click the icon to view the amounts) (Click the icon to view the calculation of cost of goods manufactured.) Click the icon to view the calculation of cost of goods sold.) West Nautical Company Income Statement For Current Year 10 O of o sition of coolaman Click the p (Click the id Data Table Beginning End of End of of Year Year Year Raw materials inventory ........$ 25,000 $ 31,000 Insurance on plant. . $ 9,000 Work in process inventory ......$ 37,000 $ 31,000 Depreciation-plant building and equipment ...$ 13,100 Finished goods inventory .......$ 13,000 S 24,000 Repairs and maintenance plant ..$ 3,800 Purchases of direct materials. $ 71,000 Marketing expenses $ 82,000 Direct labor $ 85,000 General and administrative expenses.........$ 27,500 Indirect labor... $ 41,000 Print Done ncome statement for West Nautical Company for the most recent year. Use the calculation of cost of goods sold, cost of g ow. Assume that the company sold 38,000 units of its product at a price of $11 each during the year. e icon to view the amounts i Reference e icon to view the calculati ne icon to view the calculati West Nat Incom For 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 37,000 65,000 85,000 66,900 Manufacturing overhead Total manufacturing costs to account for Less: Ending work in process inventory 253,900 31,000 222,900 $ Cost of goods manufactured (CGM) Print Done from any list or enter any number in the input fields and then continue to the next question. nt for West Nautical Company for the most recent year. Use the calculation of cost of goods sold, cost of goo t the company sold 38,000 units of its product at a price of $11 each during the year. he amounts.) the car the ca 0 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 13,000 222,900 235,900 24,000 211,900 Print Done