Reimel Furniture Company, Inc., incurred the following costs during 20x2. Raw material used Direct labor $173,000 321,000 During 20x2, manufacturing overhead of $180,000 was applied to production Products costing $120,000 were finished and products costing $132,000 were sold on account for $195,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $226,000 14,000 32,000 Balance Sheet Income Stmt. Prepare a partial income statement. REIMEL FURNITURE COMPANY, INC. Partial Income Statement For the Year Ended December 31, 20x2