1. Prepare a Cost of Goods Manufactured Statement, a Cost of Goods Sold, and a Manufacturing Income Statement for Sparrow Smith's Sports Apparel for July, based on the following information: Beginning Raw materials inventory $200,000 Beginning Work in Process Inventory $100,000 Beginning Finished Goods Inventory $250,000 Ending Raw Materials Inventory $175,000 Ending Work in Process Inventory $150,000 Ending Finished Goods Inventory $100,000 Raw Materials Purchases $500,000 Sales Revenue $2,000,000 Indirect Labor $20,000 Indirect Material $30,000 I Selling, General and Administrative Expenses $400,000 Factory Utility Expense $20,000 Factory Depreciation Expense $30,000 Factory Rent Expense $50,000.