The Following Information Applies to the Johnson Tools Company for the Year

The following information applies to the Johnson Tools Company for the year. $\begin{array}{|l|r|}\hline \text { Factory Rent } & \$ 330,000 \\\hline \text { Direct Materials Inventory, Beginning } & 96,000 \\\hline \text { Direct Materials Inventory, Ending } & 87,000 \\\hline \text { Direct Materials Purchases } & 654,000 \\\hline \text { Direct Labor-Wages } & 425,000 \\\hline \text { Indirect Labor-Wages } & 28,000 \\\hline \text { Finished Goods Inventory, Beginning } & 25,000 \\\hline \text { Finished Goods Inventory, Ending } & 44,000\\\hline\text { Indirect Materials } & 66,000 \\\hline \text { Plant Utilities } & 40,000 \\\hline \text { General and Administrative } & 101,350 \\\hline \text { Work-in-Process Inventory, Beginning } & 27,000 \\\hline \text { Work-in-Process Inventory, Ending } & 33,000 \\\hline \text { Marketing Expenses } & 225,000 \\\hline \text { Sales Revenue } & 2,550,000\\\hline\end{array}$ Required:
Prepare a statement of cost of goods manufactured and an income statement for the year.

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