Problem 3 S 7,500,000 Sales Inventories-January 1 200,000 Raw materials 240,000 Goods in process Finished goods Inventories-December 31 360,000 280,000 Raw materials 170,000 300,000 150,000 160,000 Goods in process Finished goods Accounting and legal fees Advertising Delivery expenses Depreciation-machinery Depreciation-office equipment Depreciation-store equipment Direct labor 200,000 60,000 40,000 70,000 950,000 300,000 110,000 100,000 100,000 320,000 Earthquake loss Factory supplies used Gain from expropriation of asset Gain on sale of equipment Income tax expense 250,000 Indirect labor 10,000 Interest income Light, heat, and power Office expenses 320,000 250,000 Office salaries 150,000 3,000,000 120,000 50,000 50,000 400,000 Purchases Rent-factory building Repair and maintenance-machinery Sales returns and allowances Sales salaries Superintendence 210,000 Required: Prepare a multiple-step-income statement with supporting statement of cost of goo ds manufactured