Lederman Manufacturing Corporation sold 33,000 units of product for $51 each during 2016. During the year, 11,000 shares of common stock were outstanding, ederman Manufacturin Corporation Schedule of Cost of Goods Manufactured and sold For the Year Ended December 31, 2016 Direct materiet Beginning materials inventory $55.000 Cost of materials purchased 275.000 Cost of material available 330.000 Less: Ending materials inventory 33.000 Total materials used 297,000 Less: Indirect material used 26,400 Direct materials used $270.600 Direct labor 325.600 Manufacturing overhead Indirect material 26.400 Indirect labor 81,400 Factory supplies used 22.000 Factory depreciation 14.000 Factory repairs and maintenance 46200 Total manufacturing overhead 319,000 Total manufacturing costs for the year 915,200 Add: Beginning work in process inventory 66,000 Total cost of work in process during the year 981200 Less: Ending work in process inventory 90.200 Cost of goods manufactured 891,000 Add: Beginning finished goods inventory 112,200 MICHES GIGOS Cost of goods available for sale 1,003,200 Less: Ending finished goods inventory 79,200 Cost of goods sold $924,000 Selling expenses (total) $136,400 Non-factory administrative expenses (total) 127,600 Prepare an income statement for the year (ignore income taxes). Calculate earnings per share, Do not use negative signs with answers. Round earnings per share to two decimal places. Lederman Maufacturing Corporation Income Statement For the Year Ended December 31,2016 Gross profit on sales Operating expenses: Earnings per share of common stock