The Anthony Company reports the following information pertaining to its operating activities.

	Ending Balance			Beginning Balance
Materials Inventory	$	10,000		$	40,000
Work in Process Inventory		29,000			60,000
Finished Goods Inventory		52,000			42,000

During the year, the company purchased $40,000 of direct materials and incurred $21,000 of direct labor costs. Total manufacturing overhead costs for the year amounted to $18,000. Selling and administrative expenses amounted to $60,000, and the companys annual sales amounted to $250,000.

a. Prepare Anthonys schedule of the cost of finished goods manufactured.

b. Prepare Anthonys income statement (ignore income taxes).