Q1. (25%) Holland Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted: Work-in-process inventory (January 1) Work-in-process inventory (March 31) Finished goods inventory (January 1) Finished goods inventory (March 31) Direct materials used Indirect materials used Direct manufacturing labor Indirect manufacturing labor $110,000 171,000 540,000 510,000 420,000 84,000 480,000 186,000 Property taxes on manufacturing plant building 28,000 Depreciation of manufacturing equipment Miscellaneous plant overhead Plant utilities General office expenses Marketing & distribution costs Sales Revenue quired: 264,000 135,000 92,000 305,000 130,000 1,900,000 Prepare a cost of goods manufactured schedule for the quarter. Prepare an Income Statement schedule for the quarter.