Required information [The following information applies to the questions displayed below.] Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 201. During 201, the company purchased $260,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Sales revenue was $1,109,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firm's tax rate is 40 percent. Sales revenue was $1,109,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firm's tax rate is 40 percent. 3. Prepare an income statement