The following information is available for Earp Corporationfor 2008: Inventories

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The following information is available for Earp Corporationfor 2008: Inventories               January1                  December 31 Materials                 125,000                   155,000 Work in process      225,000                   210,000 Finishdgoods          215,000                   210,000 Advertisingexpense                                105,000 Depreciation expense officeequipment       15,000 Depreciation expense factory equipment    20,000 Directlabor                                               240,000 Heat,light,power-factory                                8,000 Indirectlabor                                               28,000 Materials purchased during2008               235,000 Office salariesexpense                                82,000 Property taxes,factory                                  6,500 Property taxes- officebuilding                     13,500 Rentexpense-factory                                  11,000 Sales                                                     1,100,000 Sales salariesexpense                               135,000 Supplies-factory                                            5,500 Miscellaneouscost-factory                           3,400 Prepare the 2008 statement of cost of goods manufactured Prepare the 2008 income statement. The following information is available for Earp Corporationfor 2008: Inventories               January1                  December 31 Materials                 125,000                   155,000 Work in process      225,000                   210,000 Finishdgoods          215,000                   210,000 Advertisingexpense                                105,000 Depreciation expense officeequipment       15,000 Depreciation expense factory equipment    20,000 Directlabor                                               240,000 Heat,light,power-factory                                8,000 Indirectlabor                                               28,000 Materials purchased during2008               235,000 Office salariesexpense                                82,000 Property taxes,factory                                  6,500 Property taxes- officebuilding                     13,500 Rentexpense-factory                                  11,000 Sales                                                     1,100,000 Sales salariesexpense                               135,000 Supplies-factory                                            5,500 Miscellaneouscost-factory                           3,400 Prepare the 2008 statement of cost of goods manufactured Prepare the 2008 income statement. Materials                 125,000                   155,000 Work in process      225,000                   210,000 Finishdgoods          215,000                   210,000 Advertisingexpense                                105,000 Depreciation expense officeequipment       15,000 Depreciation expense factory equipment    20,000 Directlabor                                               240,000 Heat,light,power-factory                                8,000 Indirectlabor                                               28,000 Materials purchased during2008               235,000 Office salariesexpense                                82,000 Property taxes,factory                                  6,500 Property taxes- officebuilding                     13,500 Rentexpense-factory                                  11,000 Sales                                                     1,100,000 Sales salariesexpense                               135,000 Supplies-factory                                            5,500 Miscellaneouscost-factory                           3,400 Prepare the 2008 statement of cost of goods manufactured Prepare the 2008 income statement.

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