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The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company.

Advertising expense	$ 36,000
Depreciation expenseOffice equipment	15,000
Depreciation expenseSelling equipment	16,000
Depreciation expenseFactory equipment	58,000
Raw materials purchases (all direct materials)	680,000
Maintenance expenseFactory equipment	38,400
Factory utilities	34,600
Direct labor	432,000
Indirect labor	65,000
Office salaries expense	39,000
Rent expenseOffice space	23,000
Rent expenseSelling space	55,000
Rent expenseFactory building	132,000
Sales salaries expense	317,000

Using the following additional information for Leone Company, complete the requirements below.

Raw materials inventory, beginning	$ 136,000
Raw materials inventory, ending	141,000
Work in process inventory, beginning	41,000
Sales	2,309,000
Work in process inventory, ending	45,000
Finished goods inventory, beginning	57,000
Finished goods inventory, ending	65,000

Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement.