During the accounting period, Solomon purchased $239,200 of raw materials and issued $248.500 of materials to the production department Direct labor costs for the period amounted to $322,700, and manufacturing overhead of $47,500 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $610 400 to produce were completed and transferred to Finished Goods Inventory. Goods costing $601 400 were sold for $800,300 during the period. Selling and administrative expenses amounted to $70,600. Required a. Determine the ending balance of each of the three Inventory accounts that would appear on the year-end balance sheet. b. Prepare a schedule of cost of goods manufactured and sold and an income statement, Complete this question by entering your answers in the tabs below. . Reg CSM Sched Red B Inc Strit Prepare an income statement SOLOMON CORPORATION Income Statement For the year ended Year 2