West Nautical Company for the most recent year, had the amounts described next. Assume that the Raw Materials Inventory contains only direct materials. Calculation of Direct Materials Used, Schedule of Cost of Goods Manufactured, and Calculation of Cost of Goods Sold can be found under the "COSTOFGOODSSOLD" tab.

. How do you figure out income

statement for the year?

West Nautical Company for the most recent year, had the amounts described next. Assume that the Raw Materials Inventory contains only direct materials. Calculation of Direct Materials Used, Schedule of Cost of Goods Manufactured, and Calculation of Cost of Goods Sold can be found under the "COSTOFGOODSSOLD" tab Beginning End of of Year Year Raw materials inventory Work in process inventory35,00031,000 Finished goods inventory Purchases of direct materials Direct labor Indirect labor End of Year $ 11,500 $ 13,400 $3,700 $ 77,000 $ 28,500 $ 23,000 $ 25,000 Isurance on plant Depreciation plant building and equipment $ 20,000 22,000 Repairs and maintenance plant 74,000 Marketing expenses 86,000 Geeral and administrative expenses $ 42,000 Assume that the company has the following sales during the year: Price per Units sold unit 34,000$ 12