The Following Information Applies to the Garden Master Company for the Year

The following information applies to the Garden Master Company for the year ended December 31, 2019:
$\begin{array}{lr}\text { Factory Rent } & \$ 80,000 \\\text { Direct Materials Inventory, Beginning } & 50,000 \\\text { Direct Materials Inventory, Ending } & 45,000 \\\text { Direct Materials Purchases } & 325,000 \\\text { Direct Labor-Wages } & 550,000\\\text { Indirect Labor-Wages}&25,000\\\text { Finished Goods Inventory, Beginning}&50,000\\\text { Finished Goods Inventory, Ending}&75,000\\\text { Indirect Materials}&50,000\\\text { Plant Utilities } & 25,000 \\\text { General and Administrative } & 130,000 \\\text { Work-in-Process Inventory, Beginning } & 50,000 \\\text { Work-in-Process Inventory, Ending } & 55,000 \\\text { Marketing Expenses } & 180,000 \\\text { Sales Revenue } & 1,825,000\end{array}$
Required:
Prepare a statement of cost of goods manufactured and an income statement for the year ended December 31, 2019.