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The following data refer to snack maker Taquitos To Go for the year 20x1. Work-in-process inventory, 12/31/x0 $ 8,000 Selling and administrative salaries 13,700 Insurance

The following data refer to snack maker Taquitos To Go for the year 20x1.

Work-in-process inventory, 12/31/x0 $ 8,000
Selling and administrative salaries 13,700
Insurance on factory and equipment 3,600
Work-in-process inventory, 12/31/x1 8,200
Finished-goods inventory, 12/31/x0 14,000
Cash balance, 12/31/x1 8,000
Indirect material used 4,600
Depreciation on factory equipment 2,100
Raw-material inventory, 12/31/x0 10,200
Property taxes on factory 2,400
Finished-goods inventory, 12/31/x1 15,300
Purchases of raw material in 20x1 39,000
Utilities for factory 6,000
Utilities for sales and administrative offices 2,500
Other selling and administrative expenses 3,600
Indirect-labor cost incurred 29,000
Depreciation on factory building 3,800
Depreciation on cars used by sales personnel 1,200
Direct-labor cost incurred 79,000
Raw-material inventory, 12/31/x1 11,000
Accounts receivable, 12/31/x1 4,200
Rental for warehouse space to store raw material 2,900
Rental of space for company presidents office 1,500
Applied manufacturing overhead 58,000
Sales revenue 207,800
Income tax expense 5,100

3. Prepare the companys income statement for 20x1.

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