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	13,600
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	7,000
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	38,800
Utilities for factory	6,000
Utilities for sales and administrative offices	2,400
Other selling and administrative expenses	3,600
Indirect-labor cost incurred	29,000
Depreciation on factory building	3,400
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	4,100
Rental for warehouse space to store raw material	3,000
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.