Consider the following information for Huntersville Inc. for the fiscal year ended December 31.

Depreciation expense—administrative office.....................$ 32,000
Depreciation expense—plant and equipment.......................86,000
Direct labor—wages.................................................................487,000
Materials Inventory, Dec. 31.....................................................26,000
Materials Inventory, Jan. 1.........................................................19,000
Direct materials purchases.....................................................155,000
Finished Goods Inventory, Dec. 31...........................................38,000
Finished Goods Inventory, Jan. 1..............................................15,000
Heat, light, and power—plant...................................................44,000
Indirect labor...............................................................................25,000
Property taxes—plant................................................................34,000
Sales representatives’ salaries................................................145,000
Sales revenue.........................................................................1,495,000
Factory supervisor’s salary........................................................66,000
Supplies—administrative office................................................16,000
Supplies—plant...........................................................................29,000
Work-in-Process inventory, Dec. 31............................................9,000
Work-in-Process inventory, Jan. 1.............................................23,000

Required

Prepare a statement of cost of goods manufactured and an income statement for Huntersville for the year ended December 31, similar to those in Exhibit 3.15A.