Response to the following problem:
Jasper Company provided the following information for last year:
Costs Amount
Sales in units 285,000
Selling price $17
Direct materials $143,000
Direct labor $503,000
Manufacturing overhead $110,000
Selling expense $439,000
Administrative expense $860,000
Last year, beginning and ending inventories of work in process and finished goods equaled zero.
Required:
1. Calculate the sales revenue for last year.
2. Prepare an income statement for Jasper for last year.