Samsung Company produced 16,300 smart TV monitor during 2023. Samsung had 270 smart TV monitors in finished goods inventory at the beginning the year, At the end of the year, there were 1,250 smart TV monitors in finished goods inventory. The TV monitors sell for $150 each. Samsung's accounting records provide the following information for the financial year 2023: \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Samsung Company } \\ \hline \multicolumn{2}{|c|}{ Statement of Costs of Goods Manufactured } \\ \hline Beginning work in process & \\ \hline Direct materials: & 48900 \\ \hline Beginning inventory & 41290 \\ \hline Purchases & 182000 \\ \hline Materials available & 1 \\ \hline Ending inventory & 35530 \\ \hline Direct materials used & \\ \hline Direct labor & \\ \hline Manufacturing overhead: & \\ \hline Insurance on factory & \\ \hline Indirect labor & \\ \hline Depreciation, factory building & \\ \hline Depreciation, factory equipment & \\ \hline \end{tabular} b) Prepare an income statement for December. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline Sales & For the Year Ended December 31,2023 \\ \hline Cost of goods sold: & & \\ \hline Cost of goods manufactured & & \\ \hline Beginning finished goods inventory & & \\ \hline Goods available for sale & & \\ \hline Ending finished goods inventory & & \\ \hline Gross margin & & \\ \hline Expenses & & \\ \hline Research and development & & \\ \hline Salary, sales supervisor & & \\ \hline Commissions, salespersons & & \\ \hline \end{tabular}