Using the information provided below: 1. Prepare a cost of goods manufactured schedule for Sampson Company for 2016. 2. Prepare an income statement for Sampson Company for 2016. You will be graded on proper formatting, spelling and correct dollars for these two items. Sampson Company has the following cost and expense data for the year ending December 31, 2016.

Raw material, 1/1/16 $ 30,000 Raw materials, 12/31/16 20,000 Raw materials purchases 205,000 Indirect materials 15,000 Work in process, 1/1/16 80,000 Work in process, 12/21/16 50,000 Finished goods, 1/1/16 110,000 Finished goods, 12/31/16 120,000 Direct labor 350,000 Factory Managers Salary 35,000 Insurance, factory $ 14,000 Property taxes, factory building 6,000 Sales revenue 1,500,000 Delivery expenses 100,000 Sales commissions 150,000 Indirect labor 90,000 Factory machinery rent 40,000 Factory utilities 65,000 Depreciation, factory building 24,000 Administrative expenses 300,000