Prepare income statement and a supporting schedule of cost of goods manufactured

2-41 Income statement and schedule of cost of goods manufactured. The following items (in millions) pertain to Schaeffer Corporation: Schaeffer's manufacturing costing system uses a three-part classification of direct materials, direct manufacturing labor, and manufacturing overhead costs. For Specific Date Work-in-process inventory, Jan. 1, 2017 Direct materials inventory, Dec. 31, 2017 Finished-goods inventory, Dec. 31, 2017 Accounts payable, Dec. 31, 2017 Accounts receivable, Jan. 1, 2017 Work-in-process inventory, Dec. 31, 2017 finished-goods inventory, Jan 1, 2017 Accounts receivable, Dec. 31, 2017 SIO 4 16 24 53 5 46 32 45 34 Accounts payable, Jan. 1, 2017 Direct materials inventory, Jan. questions regarding these facts, see the next problem.) 1, 2017 For Year 2017 Plant utilities Indirect manufacturing labor Depreciationplant and equipment Revenues Miscellaneous manufacturing overhead Marketing, distribution, and customer-service costs Direct materials purchased Direct manufacturing labor Plant supplies used Property taxes on plant $8 21 6 359 15 90 88 40 9 2 Required