Based on the following information, prepare a Schedule of Cost of Goods Manufactured and a multi-step Income Statement for Junaluska Company for the year ended December 31, 2020

                       Cost of Good Manufactured

Work in Process,Jan 1                                          $60,000

Direct Material Used                   $200,000  

Direct Labour                              $300,000

Manufacturing Overhead           $400,000        

Total Manufacturing Cost                                    $900,000

                                                                              $960,000

Less: Work in Process, Dec 31                             $40,000  

Cost of Good Manufactured                               $920,000

                           Multi-Income Statement

                    For the Year Ended December 31

Net Sales Revenue                                                    $1,800,000

Cost of Good Sold

Finished Goods,Jan 1                            $50,000  

Cost of Goods Manufactured               $920,000  

Cost of Goods Available For Sales      $970,000  

Finished Goods,Dec 31                        -$20,000

Cost of Goods Sold                                                   $950,000

Gross Profit                                                                $850,000

Selling and Administrative Expense                         $500,000

Net Profit Before Tax                                                $350,000

Income Tax Expense                                                 $70,000

Net Profit                                                                    $280,000

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