The following data pertain to Babor Company for the fiscal year ended December 31:

	Prior December 31	Current December31
Purchases of direct materials		$165,000
Direct Labor		114,000
Indirect labor		45,000
Factory insurance		8,000
Deprciation - factory		33,000
Repairs & maintenance - factory		11,000
Marketing expenses		144,000
General & administrative expenses		86,000
Direct materials inventory	$23,000
Work-in-process inventory	13,000
Finished goods inventory	17,000

Sales in the current year were $625,000.

Required: Prepare a schedule of cost of goods manufactured and an income statement for the current year for Barbor Company.