P2-56B PREPARE INCOME STATEMENTS (Learning Objective 5) Part One: In 2019, Lindsey Tapia opened Lindsey's Pets, a small retail shop selling pet supplies. On December 31, 2019, her accounting records show the following: Prepare an income statement for Lindsey's Pets, a merchandiser, for the year ended December 31, 2019. Requirements 1. Prepare a schedule of cost of goods manufactured for Best Friends Manufacturing for the year ended December 31, 2020. 2. Prepare an income statement for Best Friends Manufacturing for the year ended December 31, 2020. 3. How does the format of the income statement for Best Friends Manufacturing differ from the income statement of Lindsey's Pets? Part Three: Show the ending inventories that would appear on these balance sheets: 1. Lindsey's Pets at December 31, 2019. 2. Best Friends Manufacturing at December 31, 2020