The following data pertain to Babor Company for the fiscal year ended December 31: Prior December 31 Purchases of materials Direct labor Indirect labor Factory insurance Depreciation-factory Repairs and maintenance-factory Marketing expenses General and administrative expenses Materials inventory Work-in-Process inventory Finished Goods inventory Current December 31 $ 210,000 136,500 54,000 9,800 37,500 16,400 150,300 88,700 68,500 19,600 24,400 $32,000 17,500 18,800 Sales in the current year were $700,000. Required: Prepare a schedule of cost of goods manufactured and an income statement for the current year for Babor Company. Prepare a schedule of cost of goods manufactured for the current year for Babor Company. Babor Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials Beginning materials inventory ok ht Materials available nces Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total manufacturing costs to account for Cost of goods manufactured Required: Prepare a schedule of cost of goods manufactured and an income statement for the current year for Babor Company. Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Prepare an income statement for the current year for Babor Company. Babor Company Income Statement For the Year Ended December 31 Cost of goods sold Cost of goods available for sale Cost of goods sold Total selling & administrative expenses