2. The following data was taken from the records of Moxie Company for the year ended December 31, 2017. Raw Materials Inventory 1/1/17 $ 40,000.00 Raw Materials Inventory 31/12/17 $ 30,000.00 Finished Goods Inventory 1/1/17 85,000.00 Finished Goods Inventory 31/12/17 57,800.00 Work in Process Inventory Work in Process Inventory 1/1/17 20,000.00 31/12/17 60,000.00 Sales Revenue 465,000.00 Raw Materials Purchases 480,000.00 Sales Discounts 2,500.00 Cash 18,000.00 Direct Labor 38,000.00 Plant Manager's Salary 60,000.00 Indirect Labor 12,000.00 Factory Property Taxes 6,100.00 Accounts Receivable 27,000.00 Factory Repairs 60,00000. Factory Insurance 7,400.00 Factory Utilities 10,000.00 Factory Machinery Depreciation 30,000.00 Office Utilities Expense 8,600.00 Depreciation expense - factory building 20,000.00 Instructions: (i) Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) (ii) Prepare an income statement. [3+2]