1 2 3 4 5 6 B (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or if you type the numbers in, you will be marked wrong.) 8 9 10 11 12 13 Operating income 14 15 16 17 18 19 20 24 A West Nautical Company Income Statement For Current Year E F G H

(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or if you type the numbers in, you will be marked wrong.) Review the following amounts for West Nautical Company. Assume that the Raw Materials Inventory contains only direct materials. The Calculation of Direct Materials Used, Schedule of Cost of Goods Manufactured, and Calculation of Cost of Goods Sold can be found under the "COSTOFGOOOSSOLD" tab. Assume that the company has the following sales during the year: Use the blue shaded areas on the ENIERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or If you type the numbers in, you will be marked wrong. Requirement Prepare the income statement for West Nautical Company in for the most recent year. 1 ""DATA SHEET - DO NOT ENTER ANSWEISS HERE" 3 Calculation of Direct Materials Used 10 Schedule of Cost of Goods Manufactured 20 Calculation of Cost of Goods Sold 21 Beiginning Finished Goods Inventory 22 Plusi Cost of goods manufactured 23 Cost of poods avalable for sale 24 less: Ending Finished Goods inventory 25 Cost of poods sold 26 \begin{tabular}{|rr} \hline 5 & 20,000 \\ \hline 5 & 232,600 \\ \hline & 252,600 \\ \hlineS & 23,000 \\ \hline \end{tabular} INSIRUCTIONS COSTCEGOODSSOLD