Homework Ch 2 HW Question 2, E2-26A (simil KW Score: 0.50%, 3 of points O Points of 3 Save Diamante cantad de mes pas demand and camera intory Fotowing solated count on from a bolo the most recent year ended December 31 che December 31 Outdoor Home Income Statement For the Year Ended Decem LA Requirements Using the income statement accounts in the table, calculate: 1. Cost of goods sold. Hint: Cost of goods sold can be calculated by summing the total product costs since there is no inventory. 2. Operating expenses. Hint: Operating expenses are the company's period costs. 3. Gross profit 4. Operating income December 31 Account Balances $ 33,000 Salaries and wages (for administrative and sales staff).. $ Stain (used in manufacturing furniture).. 13,500 Indirect labor costs (wages of maintenance workers in factory) ..... ......$ 21,500 Other manufacturing overhead (includes factory insurance and property taxes) $ 9,500 Rent and utilities (for administrative offices).. $ 11,600 Utility costs (related to factory) $ 10,700 Labor costs (wages of carpenters who build furniture).. $ 35,500 Accounts receivable ..... $ 27,800 Marketing costs. $ 16,800 Wood (used in manufacturing furniture). $ 59,500 $ 340,000 Accounts payable $ 6,700 Sales revenues.. Print Done