Question: The Delta Company manufactures small stuffed gorillas. The total revenue is $59,000 The Company i...

The Delta Company manufactures small stuffed gorillas. The total revenue is $59,000 The Company incurred the following costs:

Materials $ 5,200 (10% is indirect materials)

Labor 7,000 (12% is indirect labor)

Factory overhead.. 25,000 (including indirect materials and indirect labor)

General and administrative expenses. 14,700

Office salaries. 4,800

Equipment purchased at end of period (ignore depreciation).. 5,300

Total. $62,000

There were no units still in process at the end of the year, and 92% of the goods produced during the year were sold.

Required: Prepare Income Statement showing net income or loss.