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

Inventories January 1 December 31 Materials $351,000 $436,800

Work in process 631,800 592,800

Finished goods 608,400 576,000

December 31

Advertising expense $ 296,400

Depreciation expense-office equipment 42,120

Depreciation expense-factory equipment 56,160

Direct labor 670,800

Heat, light, and power-factory 22,460

Indirect labor 78,750

Materials purchased 659,800

Office salaries expense 185,000

Property taxes-factory 18,500

Property taxes-office building 32,400

Rent expense-factory 32,000

Sales 3,010,000

Sales salaries expense 420,000

Supplies-factory 15,400

Miscellaneous costs-factory 9,500

Required:

A. Prepare the 2016 statement of cost of goods manufactured.

B. Prepare the 2016 income statement.

Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Less or Plus will automatically appear if it is required. Enter all amounts as positive numbers.