Skylar Company is a brand new company that started operations on December 31, 2019. Skylar manufactures Dog Grooming Tables. At the end of December 2019, the accountant for Skylar Company compiled the following information:

Administrative Expense 25,000

Direct Labor 10,000 Ending Finished Goods 8,000

Ending Raw Material 20,000

Ending Work-in-Process 7,000

Manufacturing Overhead 6,000

Raw Material Purchases 50,000

Sales Revenue 120,000

Selling Expense 30,000

a) Prepare a schedule of cost of goods manufactured for December

b) Prepare an income statement for December