The following data refer to Superior Metals Corporation for the year 20x4. Raw-material inventory, 12/31/x3 $ 89,000 Purchases of raw material in 20x4 731,000 Raw-material inventory, 12/31/x4 59,000 Direct-labor cost incurred 474,000 Selling and administrative expenses 268,000 Indirect labor cost incurred 151,000 Property taxes on factory 91,000 Depreciation on factory building 126,000 Income tax expense 23,000 Indirect material used 45,000 Depreciation on factory equipment 60,000 Insurance on factory and equipment 41,000 Utilities for factory 71,000 Work-in-process inventory, 12/31/x3 0 Work-in-process inventory, 12/31/x4 40,000 Finished-goods inventory, 12/31/x3 34,000 Finished-goods inventory, 12/31/x4 40,000 Applied manufacturing overhead 577,500 Sales revenue 2,107,000 Prepare Superior Metals schedule of cost of goods manufactured for 20x4. Prepare the companys schedule of cost of goods sold for 20x4. The company closes overapplied or underapplied overhead into Cost of Goods Sold. Prepare the companys income statement for 20x4.