During Year 2, Baird Manufacturing Company incurred $84,600,000 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 Year 2 Manufacturing costs (direct materials, direct labor, and overhead) are expected to be $66 per unit Packaging, shipping and sales commissions are expected to be $18 per unit Baird expects to sell 1.800.000 batteries before new research renders the battery design technologically obsolete. During Year 2, Baird made 438,000 batteries and sold 401,000 of them Required a. Identify the upstream and downstream costs. b. Determine the Year 2 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 c. Determine the sales price assuming that Baird desires to earn a profit margin that is equal to 30 percent of the total cost of developing, making and distributing the batteries d. Prepare a GAAP based income statement for Year 2. Use the sales price developed in Requirement Complete this question by entering your answers in the tabs below. Required A Required B Required Requred D Identify the upstream and downstream costs. 1 Research and development 2 Packaging 3 Shipping 4 Sales commissions Required > During Year 2 Band Manufacturing Company incurred $84,600,000 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 Year 2 Manufacturing costs (direct materials direct labor, and overhead are expected to be $66 per unit. Packaging, shipping, and sales commissions are expected to be $18 per unit Baird expects to sell 1.800,000 batteries before new research renders the battery design technologically obsolete. During Year 2 Baird made 438,000 batteries and sold 401000 of them Required a. Identify the upstream and downstream costs. b. Determine the Year 2 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 c. Determine the sales price assuming that Baird desires to earn a profit margin that is equal to 30 percent of the total cost of developing, making, and distributing the batteries d. Prepare a GAAP based income statement for Year 2. Use the sales price developed in Requirement Complete this question by entering your answers in the tabs below.. Required A Required B Required Required D Determine the Year 2 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 Ending investory Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Determine the sales price assuming that Baird desires to earn a profit margin that is equal to 30 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 Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Prepare a GAP-based income statement for Year 2. Use the sales price developed in Requirement c. (Do not round intermediate calculations.) BAIRD MANUFACTURING COMPANY Income Statement Net income foss)