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The following data pertain to Babor Company for the fiscal year ended December 31: Prior December 31 Purchases of materials Direct labor Indirect labor Factory insurance Depreciation-factory Repairs and maintenance-factory Marketing expenses General and administrative expenses Materials inventory Work-in-Process inventory Finished Goods inventory Current December 31 $ 167,500 115,250 45,500 8,100 33,250 11,300 124,350 86,150 55,750 16,200 25,000 $ 23,500 13,250 17,100 Sales in the current year were $563,000. Required: Prepare a schedule of cost of goods manufactured and an income statement for the current year for Babor Company. Complete this question by entering your answers in the tabs below. Stmt of COGM Income Statement Prepare an income statement for the current year for Babor Company. Babor Company Income Statement For the Year Ended December 31 Cost of goods sold Cost of goods available for sale Cost of goods sold Total selling & administrative expenses