Presley Manufacturing lCompany is a producer of music compact discs [(205] and tapes. The following account balances are for the year ended December 31, 201? Administrative expenses $ 60,000 Depreciation expense Manufacturing equipment 50,000 Direct labor 468,000 Manufacturing supplies expense 40,000 Indirect labor 36,000 Direct materials purchases 1?0022 {Plug in the last 6 digits of your ID) Rent expense Factory 23,000 Sales 1,400,000 Selling expense 72,000 Other manufacturing overhead 126,000 Beginning inventories. January 1: Direct materials 14,000 Work in process 20.000 Finished goods 128,000 Ending inventories, December 31 Direct materials 44,000 Work in process 56.000 Finished goods 70022 [Plug in the last 5 digits of your ID) Instructions: 0 Prepare a statement of cost of goods manufactured for Presley Manufacturing Company for the yeac - Prepare an income statement for the year ended December 31