Income statement and schedule of cost of goods manufactured. The Howell Corporation has the following account balances (in millions):

Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2009. (For additional questions regarding these facts, see the next problem.)

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For Year 2009 For Specific Date Direct materials inventory, Jan. 1, 2009 Work-in-process inventory, Jan. 1, 2009 Finished goods inventory, Jan. 1, 2009 Direct materials inventory, Dec. 31, 2009 Work-in-process inventory, Dec. 31, 2009 Finished goods inventory, Dec. 31, 2009 $15 Purchases of direct materials 10 Direct manufacturing labor 70 Depreciation-plant and equipment 20 Plant supervisary salaries 5 Miscellaneous plant overhead 55 Revenues Marketing, distribution, and customer-service costs Plant supplies used Plant utilities Indirect manufacturing labor $325 00 80 35 950 240 10 30 60