Tableau DA 14-3: Mini-Case, Preparing an income statement Prepare an income statement. Note: Use cost of goods sold calculated in part Mountaineer Co. Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 Net income $ 0 Required information Tableau DA 14-3: Mini-Case, Schedule of cost of goods manufactured and income statement preparation LO C2 [The following information applies to the questions displayed below.] You have been asked by the CEO of Mountaineer Company to assist in analyzing product costs. This analysis is used in internal decision making and in reporting to investors. The following Tableau Dashboard provides data needed for the analysis. Raw Materials Inventories Raw materials, beginning Raw materials purchases Direct materials used Raw materials, ending $0 $25,000 $50,000 $75,000 $100,000 $125,000 $150,000 $175,000 $200,000 Work in Process & Finished Goods Inventories Work in Process Finished Goods Indirect labor Indirect labor $50,000 $54,000 $50,000 $40,000 Factory utilities $43,000 $30,000 $33,000 Property taxes-Factory Repairs --Factory equipment $20,000 $10,000 $0 Beginning Ending Beginning Ending Depreciation expense--Factory Additional Data Accounts receivable, net $150,000 Cash $350,000 Direct labor $180,000 Sales and Select Expense Accounts Sales General & administrative expenses Selling expenses $0 $200,000 $400,000 $600,000 $800,000 $1,000,000