San Ysidro Company manufactures hiking equipment. The company's administrative and manufacturing operations share the company's only building. Eighty percent of the building is used for manufacturing and the remainder is used for administrative activities. Indirect labor is 8 percent of direct labor. The cost accountant at San Ysidro has compiled the following Information for the year ended December 31. Administrative salaries Attorney fees to settle zoning dispute Building depreciation (manufacturing portion only) Cost of goods manufactured Direct materials inventory, December 31 Direct materials purchased during the year $ 180,700 27,500 227,900 3,493,200 304,700 Distribution costs Direct materials used Finished goods inventory, January 1 Finished goods inventory, December 31 Insurance (on plant machinery) Maintenance (on plant machinery) Marketing costs Other plant costs Plant utilities Sales revenue Taxes on manufacturing property Total (direct and indirect) labor Work-in-process inventory, January 1 Work-in-process inventory, December 31 1,221,000 1,340,000 5,000 279,000 315,000 66,700 41,200 131,600 109,100 128,700 5,690,300 43,400 1,533,600 88,200 85,600 Required: Prepare a cost of goods manufactured and sold statement and an Income statement. Complete this question by entering your answers in the tabs below. COGM and COGS Stmts Income Stmt Prepare a cost of goods manufactured and sold statement and an income statement. SAN YSIDRO COMPANY Cost of Goods Manufactured and Sold Statement For the Year Ending December 31 Manufacturing costs: Direct materials: Manufacturing overhead: Total overhead Total manufacturing costs Total cost of work-in-process during the year Costs of goods manufactured this year Cost of goods available for sale Cost of goods sold 0 Required: Prepare a cost of goods manufactured and sold statement and an Income statement. Complete this question by entering your answers in the tabs below. COGM and COGS Stmts Income Stmt Prepare a cost of goods manufactured and sold statement and an income statement. SAN YSIDRO COMPANY Income Statement For the Year Ended December 31 Total operating costs 0