General Electrics provided the following information for 2020: Beginning inventory Raw material $60,000 Work in process 125,000 Finished goods 278,000 Ending inventory Raw material $45,000 Work in process 172,000 Finished goods 250,000 During the year, raw material purchased amounted to $120 000, direct labor cost was $345 000 and overheads costs was $460 000. GE's sales revenues totaled $1 750 000 and they had $92 000 selling and administrative expenses. GE's income tax rate is 20%. Required: A. Construct a schedule to calculate cost of goods manufactured. (60pts) B. Construct a statement to calculate cost of goods sold. (20pts)