Baird Corporation began fiscal Year 2 with the following balances in its inventory accounts. During the accounting period, Baird purchased $240,000 of raw materials and issued $248,300 of materials to the production department. Direct labor costs for the period amounted to $322,700, and manufacturing overhead of $47,100 was applied to Work in Process Inventory. Assume that there was no over-or underapplied overhead. Goods costing $611,200 to produce were completed and transferred to Finished Goods Inventory. Goods costing $601,800 were soid for $801,500 during the period. Selling and administrative expenses amounted to $71,200. Required o. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b1. Prepare a schedule of cost of goods manufactured and sold. b2. Prepare an income statement Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end batance sheet. b1. Prepare a schedule of cost of goods manufactured and sold b2. Prepare an income statement. Complete this question by entering your answers in the tabs below. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. Required a. Detcrmine the ending balance of each of the thete inventory accounts that would appear on the yeariend batarice shect. b1. Prepare a schedule of cost of goods manufactured and sold. b2. Prepare an income staternent. Complete this question by entering your onswers in the tabs below. Prepare a schedule of cost of goods manutactured and sold. b1. Prepare a schedule of cost of goods manufactured and sold: b2. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare an income statement