The following were from the books of Angeline company for June 2021 Inventories: Raw purchased materials Factory overhead Raw materials Work Process June 1, June 31, 2019 2019 ? 20,000 in ? 72,000 Finished goods 120,000 (80% of the beginning) 208,000 100,000 126,000 Materials to supplier Distribution returned expense, 5% of sales Freight in Administrative expense, 7% of sales Interest expense (75% of direct labor cost) 2,000 1,200 5,000 Sales Net Income Required: Prepare the income statement. 1,000,000 528,000