2. Below are the accounts of Sulaiman Bhd. as at 31 December 2020: Raw material, Jan 1 Work in process, Jan 1 Details RM 55,000 3,000 Finished goods, Jan 1 10,000 Depreciation factory building 128,000 Depreciation factory equipment Purchased direct material 73,000 308,000 Utility 124,000 Insurance 57,000 Factory maintenance expense Indirect material Factory operator salary 69,000 16,000 245,000 Factory supervisor salary Marketing manager salary ADDITIONAL INFORMATION: 11,000 10,000 1. Utility and insurance expenses are distributed between the factory and the office according to the ratio of 3: 1. 2. Inventory on 31 December 2020; Raw material RM73,000; Work in process RM4,000; Finished goods RM7,500. 3. Sales RM2,200,000. REQUIRED: a) b) Prepared Statement of Cost of Goods Manufactured for the year ended 31 December 2020. [7 marks] Prepared Income Statement for the year ended 31 December 2020. [4.5 marks]