prepare the income statement

The following data is provided MCGA Ltd:

Direct Labour $30,100 Purchase of raw materials $52,890 Factory Management monthly salary $ 12,900 Repair for factory (50%) and office (50%) $ 5,160 Advertising expense $38,700 Factory Insurance $387 Sales person, salaries $ 21,500 Rent for factory machinery $ 9,890 Factory supplies $ 1,978 Depreciation, office equipment $ 1,505 Depreciation, factory equipment $ 9,030 Beg, Raw Materials $ 3,440 Ending, Raw Materials $ 7,095 Beg, Work-in-Process $ 4,300 Ending, Work-in-Process $ 2,215 Beg, Finished Goods $ 9,998 Ending, Finished Goods $ 16,383 Sales Revenue $1,075,000

H K 62.400 375,960 Beg Direct Materials inventory + New Purchase of Direct Materials - Ending Direct Materials inventory Direct Materials used in production Sales - Sales Disc - Sales Return Net Sales 42.640 1) 23 + Direct Labour COGS Gross Profit - Operating Expenses Factory Building + Indirect materials (like lubricant) indirect tabour (like factory supervisor salary) Factory, Supplies Factory, Insurance Factory, Property tax Factory, Repair and Maintenance Factory, Utility Factory, Rent for machinery or building Factory, Depreciation for Machinery and Buildings Manufacturing Overhead 3) office, supplies Office, insurance Office Property Tax Office office, repair and maintenance office, Utility Building office, rent for equipment or building office, Depreciation for equipment and building office, tel Exp ottice, as exp Total Operating Expenses 1)+2)+2) Total Manufacturing cont (New W..?) + Beg WIP - Ending W.IP Cost of Goods Manufactured (New Finished Goods or products) + Beg Finished Goods or products - Ending Finished Goods or Products COGS Net Income H K 62.400 375,960 Beg Direct Materials inventory + New Purchase of Direct Materials - Ending Direct Materials inventory Direct Materials used in production Sales - Sales Disc - Sales Return Net Sales 42.640 1) 23 + Direct Labour COGS Gross Profit - Operating Expenses Factory Building + Indirect materials (like lubricant) indirect tabour (like factory supervisor salary) Factory, Supplies Factory, Insurance Factory, Property tax Factory, Repair and Maintenance Factory, Utility Factory, Rent for machinery or building Factory, Depreciation for Machinery and Buildings Manufacturing Overhead 3) office, supplies Office, insurance Office Property Tax Office office, repair and maintenance office, Utility Building office, rent for equipment or building office, Depreciation for equipment and building office, tel Exp ottice, as exp Total Operating Expenses 1)+2)+2) Total Manufacturing cont (New W..?) + Beg WIP - Ending W.IP Cost of Goods Manufactured (New Finished Goods or products) + Beg Finished Goods or products - Ending Finished Goods or Products COGS Net Income