The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 21,800 32,400 6,000 December 31 ( Ending) $ 25,300 28,900 6,700 Direct materials used during the year amount to $45.700 and the cost of goods sold for the year was $53,400. Required: Prepare a cost of goods sold statement.