Score: 0 of 1 pt 4 5 of 7 (7 complete) v Tl HW Score: 85.71%, 6 of 7 pts E2-27A (similar to) 'ouesuon'Helpv' l a Prepare the income statement for East Aquatic Company for the most recent year. Use the calculation of cost of goods sold, east of goods manufactured, and the amounts below. Assume that the company sold 36,000 units of its product at a price of$15 each during the year. a (Click the icon to view the amounts.) 5 (Click the icon to view the calculation of cost of goods manufactured.) 5 (Click the icon to view the calculation of oost of goods sold.) East Aquatic Company Income Statement For Current Year Sales revenues Less; Cost of goods sold Gross prot Less: Operating expenses Marketing expenses $ 78,000 General and administrative expenses 23:500 Operating expenses Choose from any list or enter any number in the input fields and then click Check Answer. 0 Data Table Beginning End of of Year Year Raw materials inventory ....... $ 21,000 $ 26,000 Insurance on plant Work in process inventory ...... $ 42,000 $ 37,000 Depreciationplant building and equipment Finished goods inventory ....... $ 14,000 $ 25,000 Repairs and maintenance-plant Purchases of direct materials . . . . 79,000 Marketing expenses Direct labor 85,000 General and administrative expenses Indirect labor 38,000 my for the most recent ear. Use the calculation of cost of uoods sold cost of mods manufactured and the amounts below. Assume the 0 Reference ods manufactured.) ods sold.) East Aquatic Industries Calculation of Cost of Goods Manufactured For Current Year Beginning work in process inventory 42,000 Plus: Manufacturing costs incurred Direct materials used 74,000 Direct labor 85,000 Manufacturing overhead 64500 $ 78,000 Total manufacturing costs to account for 265,500 23,500 ! Less: Ending work in process inventory 37'000 Cost of goods manufactured (CGM) 228'500 .ut fields and then clic my for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume tha ods manufactur- 0 Reference ods sold.) East Aquatic Manufacturing Calculation of Cost of Goods Sold For Current Year Beginning nished goods inventory 14,000 Plus: Cost of goods manufactured 28500 Cost of goods available for sale 242,500 25,000 Less: Ending nished goods inventory Cost of goods sold 217.500 .ut fields and then click Check