The following data were taken from the records of Pharoah Manufacturing Company for the fiscal year ended December 31, 2022: Raw Materials Inventory (1/1/22) $ 47,400 Factory Machinery Depreciation $7,700 Raw Materials Inventory (12/31/22) 44,300 Factory Utilities 13,220 Finished Goods Inventory (1/1/22) 85.850 Office Utilities 8,800 Sales 465.480 77.150 Finished Goods Inventory (12/31/22) 9,650 Sales Discounts 2,350 Work in Process Inventory (1/1/22) 7.100 40.800 Plant Manager's Salary Work in Process Inventory (12/31/22) 7.220 145.750 Factory Property Taxes Direct Labour 820 18,300 Factory Repairs Indirect Labour 62,500 27.000 Raw Materials Purchases Accounts Receivable 28.700 7.600 Cash Factory Insurance PHAROAHMANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 Work in Process Inventory. (1/1) 9,650 Direct Materials Raw Materials Inventory. (1/1) 47.400 62 500 Raw Materials Purchases 109.900 Total Raw Materials Available for Use 44.300 Less : Raw Materials Inventory (12731) 65.600 Direct Materials Used B 17C Cloudy 145,750 Direct Labour Manufacturing Overhead 18,300 Indirect Labour 71600 Factory Insurance 7.700 Factory Machinery Depreciation 13,220 Factory Utilities 40,800 Plant Manager's Salary 7.220 Factory Property Taxes 820 Factory Repairs 95,660 Total Manufacturing Overhead PEMBA I Total Manufacturing Costs 307,010 Total Cost of Work in Process 316,660 Less Work in Process Inventory, (12/31) 7,100 Cost of Goods Manufactured $ 309,560 Prepare an income statement through gross profit. (Enter negative amounts using elther a negative sign preceding the numbereg.-45 or parentheses eg. (45).) PHAROAHMANUFACTURING COMPANY (Partial) Income Statement $ $