The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning) $ 22,200 32,100 5,400 December 31 (Ending) $ 25, 400 28,800 6,900 Direct materials used during the year amount to $46,000 and the cost of goods sold for the year was $53,000. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs: Direct materials: Materials available Direct materials used Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Finished goods available for sale Cost of goods sold