The following data pertain to Spartan Products Company:

Sales revenue $ $2,050,000$

Materials inventory, January $127,000$

Direct labor$$wages $385,000$

Depreciation expense$$plant and equipment $87,000$

Indirect labor$$wages $12,000$

Heat, light, and power$$plant $15,500$

Supervisor$$s salary$$plant $47,000$

Finished goods inventory, January $138,500$

Work$-$in$-$process inventory, December $3128,500$

Supplies$$administrative office $7,400$

Property taxes$$plant $27,000$

Finished goods inventory, December $3147,000$

Materials inventory, December $3133,500$

Sales representatives$$ salaries $295,000$

Work$-$in$-$process inventory, January $142,000$

Materials purchases $184,000$

Supplies$$plant $6,800$

Depreciation$$administrative office $40,500$

Required:

Prepare a statement of cost of goods manufactured and an income statement for Spartan Products Company for the year ended December $31.$