Chapter 15 Practice Problem #2 Use the below information to prepare the following statements for Purple Corporation for the Year Ended December 31, 2019: 1) Statement of Cost of Goods Manufactured 2) Income Statement Supervisory and indirect labor Insurance Expense Factory maintenance & repairs Utilities Expense Supplies and indirect materials Work in Process Inventory, Jan 1 Work in Process Inventory, Dec 31 Advertising Expense Office Salaries Expense Depreciation Expense-Factory Building Sales Commissions Supplies Expense Rent-Corporate Office Direct labor Material purchases Finished Goods Inventory, Jan 1 Finished Goods Inventory, Dec 31 Depreciation Expense-Factory Equipment Sales Salaries Expense Heat, light & power-Factory Depreciation Expense-Office Equipment Telephone Expense Property Taxes-Factory Building Material, January 1 Material, December 31 Sales Revenue 765,900 475,000 235,000 185,000 395,000 645,000 1,250,000 525,000 2,200,000 860,000 600,000 190,000 3,010,000 800,000 1,500,000 2,750,000 1,650,000 575,000 1,250,000 435,600 480,000 325,000 989,600 430,000 760,000 16,500,000