The following information is available for The NewQuest Corporation for 2016:

Inventories	January 1	December 31
Materials	$347,000	$435,000
Work in process	627,000	590,600
Finished goods	608,200	571,000

December 31

Advertising expense $ 295,200

Depreciation expense-office equipment 44,400

Depreciation expense-factory equipment 55,000

Direct labor 669,600

Heat, light, and power-factory 22,480

Indirect labor 76,750

Materials purchased 658,600

Office salaries expense 185,300

Property taxes-factory 18,200

Property taxes-office building 32,400

Rent expense-factory 32,500

Sales 3,016,000

Sales salaries expense 419,000

Supplies-factory 15,900

Miscellaneous costs-factory 9,600

Required:
A.	Prepare the 2016 statement of cost of goods manufactured.
B.	Prepare the 2016 income statement.