A very popular and well-known food processing is operated under franchise by Vanilla Food Processing

Company shows the following records after the second year of operations in the Visayas territory.

Vannilla Food Processing Co.

Trial Balance
December 31, 2019

Cash in Bank 375,000

Petty Cash Fund 10,000
Accounts Receivable 65,000
Finished Goods, Jan. 1, 2019 150,000
Goods in Process – Jan. 1, 2019 75,000
Raw Materials – Jan. 1, 2019 185,000
Machinery and Equipment 380,000
Accumulated Depreciation – Machinery & Equipment 76,000
Office Equipment 120,000
Accumulated Depreciation – Office Equipment 24,000
Franchise 315,000
Accounts Payable 67,000
E. Detoya, Capital 1,692,000
Sales 1,350,000
Purchases – Raw Materials 295,000
Direct Labor 350,000
Indirect Labor 285,000
Taxes and Licences 84,000
Repairs and Maintenance 120,000
Light and Water 160,000
Office Supplies Expense 240,000
Total 3,209,000 3,209,000

Additional Information:

Inventories on December 31, 2010 comprised of the following:

Finished Goods 350,000

Goods in Process 286,000
Raw Materials 90,000

Required:

1. Statement of Cost of Goods Manufactured and Sold

2. Statement of Financial Performance
3. Statement of Changes in Capital
4. Statement of Financial Position