Please fill in the missing spots in this income statement.

Accounting 102 Chapter 15 Income Statement #1 Sales $40,000 Direct Materials $9,000 Direct Labor $4,000 Overhead Total Manufacturing Costs $25.000 Work in Process - January 1 $1,000 Work in Process - December 31 $(3,500) Cost of Goods Manufactured Finished Goods Inventory - January 1 Cost of Goods Available for Sale Finished Goods Inventory - December 31 $(4,000) Cost of Goods Sold $26,500 Gross Margin Operating Expenses Net Operating Income $5,500