The following information is available for Robstown Corporation for 20Y8: January 1 December 31 $77,600 $93,600 Work in process 109,000 96,700 Finished goods 112,000 109,900 Inventories Materials Advertising expense Depreciation expense-office equipment Depreciation expense-factry equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Offinn nalarian numAnna December 31 $ 69,000 23,000 14,000 186,700 5,900 24,860 123,200 75.000 Instructions Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-office building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory 5,900 24,860 123,200 75,800 4,005 12,600 6,375 862,000 135,000 3,500 4,620 Required: a Prepare the 20Y8 statement of cost of goods manufactured b. Prepare the 20Y8 income statement. W Labels and Amount Descriptions Labels For the Year Ended December 31, 20Y8 For the Month Ended December 31, 20Y8 Amount Descriptions Advertising expense Cost of direct materials used in production Cost of finished goods available for sale Cost of goods manufactured Cost of goods sold Cost of materials available for use Depreciation expense-factory equipment Depreciation expense-office equipment Direct labor Finished goods inventory, December 31, 20Y8 Finished goods inventory, January 1, 20Y8 Gross profit 2 Labels and Amount Descriptions Gross profit Heat, light, and power-factory Indirect labor Materials inventory, December 31, 20Y8 Materials inventory, January 1, 20Y8 Miscellaneous costs-factory Net income Office salaries expense Purchases Property taxes-factory Property taxes-office building Rent expense-factory Supplies-factory Sales Sales salaries expense Total manufacturing costs incurred in 20Y8 Total factory overhead X Statement of Cost of Goods Manufactured a Prepare the 2018 statement of cost of goods manufactured Statement of Cost of Goods Manufactured Instructions Direct materials: Robstown Corporation. Statement of Cost of Goods Manufactured (Label) 4 Income Statement i b. Prepare the 2018 income statement Income Statement Instructions Cost of goods sold: Robstown Corporation Income Statement (Label)