14-2 A very popular and well-known food processing is operated under franchise by the Vanilla Food Processing Company, is a client of Sharon Fe Gabriel \& Co., CPAs showed the following records after the second year of operations in the Visayas territory. Additional information: 1. Inventories on December 31,20B comprised of the following: 2. Machinery and Equipment's depreciation is P76,000 per annum. 3. Office Equipment's depreciation if P34,000 per annum. 4. The remaining life of the franchise is 9 years. The amortization for the year amounted to P35,000. 5. The following costs are to be allocated: Required: 1. A 10-column worksheet 2. Statement of Cost of Goods Manufactured 3. Statement of Comprehensive income 4. Statement of Financial Position 5. Adjusting and Closing Entries 14-2 A very popular and well-known food processing is operated under franchise by the Vanilla Food Processing Company, is a client of Sharon Fe Gabriel \& Co., CPAs showed the following records after the second year of operations in the Visayas territory. Additional information: 1. Inventories on December 31,20B comprised of the following: 2. Machinery and Equipment's depreciation is P76,000 per annum. 3. Office Equipment's depreciation if P34,000 per annum. 4. The remaining life of the franchise is 9 years. The amortization for the year amounted to P35,000. 5. The following costs are to be allocated: Required: 1. A 10-column worksheet 2. Statement of Cost of Goods Manufactured 3. Statement of Comprehensive income 4. Statement of Financial Position 5. Adjusting and Closing Entries