During 2017, Zachary Manufacturing Company incurred $76,000,000 of research and development (R&D) costs to create a long-life battery to use in computers. In accordance with FASB standards, the entire R&D cost was recognized as an expense in 2017 Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $64 per unit. Packaging, shipping, and sales commissions are expected to be $9 per unit. Zachary expects to sell 1,900,000 batteries before new research renders the battery design technologically obsolete. During 2017, Zachary made 435,000 batteries and sold 392,000 of them. Required a. Identify the upstream and downstream costs b. Determine the 2017 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAF. c. Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. d. Prepare a GAAP-based income statement for 2017. Use the sales price developed in Requirement c. Complete this question by entering your answers in the tabs below. Required A Required B Required CRequired D Identify the upstream and downstream costs. 1. Research and development 2. Packaging 3. Shipping 4. Sales commissions Required B > Required A Required B Required C Required D Determine the 2017 amount of cost of goods sold and the ending inventory balance that would appear on the financial statements that are prepared in accordance with GAAP. Cost of goods sold Ending inventory Required A Required C> Complete this question by entering your answers in the tabs below Required A Required B Required CRequired D Determine the sales price assuming that Zachary desires to earn a profit margin that is equal to 25 percent of the total cost of developing, making, and distributing the batteries. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Sales price Required A Required B Required CRequired D Prepare a GAAP-based income statement for 2017. Use the sales price developed in Requirement c. (Do not round intermediate calculations.) ZACHARY MANUFACTURING COMPANY Income Statement Net income (loss)