Microsoft Corporation has the following information for its fiscal year 2023:

• Raw Materials Purchases: $4,500,000
• Direct Labor: $2,200,000
• Manufacturing Overhead: $1,800,000
• Beginning Raw Materials: $600,000
• Ending Raw Materials: $500,000
• Beginning Work in Process: $700,000
• Ending Work in Process: $800,000
• Beginning Finished Goods: $900,000
• Ending Finished Goods: $1,000,000
• Sales Revenue: $15,000,000
• Selling and Administrative Expenses: $2,500,000

Requirements:

1. Prepare a schedule of cost of goods manufactured.
2. Calculate the cost of goods sold.
3. Determine the gross profit.
4. Prepare an income statement for Microsoft Corporation.