Roberts and Sayed Manufacturers produce a special brand of premium soccer boots that are used worldwide by players and fans The boots are produced in Alberta. Canada and sold to two wholesalers. Kick-up Gear and Langens Soccer Fan Club. 30,000 boots were produced but only 20,000 were sold Each boot was sold for $50 and there were no boots in inventory at the beginning of the year. Noble Smith, an accounting assistant hired by the company prepared the following cost and income statement for management for the year ended December 31^st 2014