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Pat Fike, accountant for Nozama Company, prepared the following amounts to include on the financial statements for the period ending August 31, 20XX. Sales $1,200,000 Purchases of materials 250,000 Manufacturing labor 270,000 Advertising 37,000 Administrative travel 27,000 Manufacturing utilities 49,000 Facility rental 90,000 Depreciation 60,000 Sales commissions I 31,000 Insurance 40,000 Office utilities 25,000 Management salaries 380,000 The purchase of materials included 20% indirect materials. 40% of the manufacturing labor was for indirect manufacturing labor The facility was used partly for the sales and administrative team (20%) 30% of the depreciation expense was related to delivery trucks 60% of the insurance relates to manufacturing activities 40% of the management salaries relate to manufacturing activities . . . Furthermore, Fike compiled the following information with respect to inventories for the period (note that the company does not maintain inventories of indirect materials). Direct materials Work-in-progress Finished goods Required: Beginning $6,000 9,000 11,000 Ending $8,000 10,000 7,000 I 1 1. Prepare cost of goods manufactured & income statement for the period.