Income Statement and Supporting Schedules.The following information is for Ciena, Inc., for the year ended December $31,2020.$

Raw materials inventory beginning balance $ $15,000$

Raw materials inventory ending balance $ $12,000$

Work$-$in$-$process inventory beginning balance $ $825,000$

Work$-$in$-$process inventory ending balance $ $900,000$

Finished goods inventory beginning balance $ $615,000$

Finished goods inventory ending balance $ $525,000$

Raw material purchases $ $150,000$

Direct labor used in production $ $187,500$

Manufacturing overhead $($not indirect materials$)$ $ $945,000$

Selling costs $ $135,000$

General and administrative $ $360,000$

Sales revenue $$1,897,500$

Of the total raw materials placed in production for the year, $$18,000$ was for indirect materials.

Required:

Prepare a schedule of raw materials placed in production for the year ended December $31,2020.$

Prepare a schedule of cost of goods manufactured for the year ended December $31,2020.$

Prepare a schedule of cost of goods sold for the year ended December $31,2020.$

Prepare an income statement for the year ending December $31,2020.$