Answer:
Instructions are listed below
Explanation:
Giving the following information: 
Sales $1,980 
Selling expenses 280
Manufacturing overhead 460 
Direct labor 400 
Administrative expenses 300 
Purchases of direct materials 240 
Finished goods inventory, beginning 240 
Finished goods inventory, ending 320 
Direct materials inventory, beginning 80 
Direct materials inventory, ending 140 
Work in process inventory, beginning 140 
Work in process inventory, ending 100
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 140 + (80 + 240 - 140) + 400 + 460 - 100= 1080
Cost Of Goods Sold= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 240 + 1080 - 320= 1000
Income statement:
Sales= 1980
COGS= 1000 (-)
Gross profit= 980
Selling expenses 280
Administrative expenses 300 
Net operational profit= 400