San Ysidro Company manufactures hiking equipment. The companys administrative and manufacturing operations share the companys 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	$	176,900
Attorney fees to settle zoning dispute		28,100
Building depreciation (manufacturing portion only)		229,700
Cost of goods manufactured		3,565,700
Direct materials inventory, December 31		292,300
Direct materials purchased during the year		1,284,000
Direct materials used		1,323,000
Distribution costs		5,900
Finished goods inventory, January 1		278,000
Finished goods inventory, December 31		318,000
Insurance (on plant machinery)		67,800
Maintenance (on plant machinery)		43,100
Marketing costs		131,300
Other plant costs		111,600
Plant utilities		128,100
Sales revenue		5,739,700
Taxes on manufacturing property		47,400
Total (direct and indirect) labor		1,609,200
Work-in-process inventory, January 1		90,500
Work-in-process inventory, December 31		84,700

Required:

Prepare a cost of goods manufactured and sold statement and an income statement.