Chapter 2 Schedule of Cost of Goods Manufactured The following information is available for Avatar Company: Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Sales revenue Sales discounts Sales staff salaries Advertising costs 2019 Dec. 31, 2019 $ 30,000 17,800 23,000 Jan. 1, 2019 $ 11,000 14,500 27,000 160,000 230,000 950,000 5,000 80,000 30,000 18,000 12,000 30,000 20,000 90,000 Rent on office building Indirect labor Depreciation on factory equipment Rent on factory building Plant manager salary 1.) Prepare the company's schedule of cost of goods manufactured. 2.) Compute the company's cost of goods sold. 3.) Prepare the company's income statement.