Q2.The following data refer to Sydney Manufacturing Pty Ltd for 2021. Sales revenue $1,450,000 Raw material inventory. I January 2021 30,000 Purchase of raw material 205,000 Raw material inventory, 31 December 2021 20,000 Indirect materials 15,000 Direct labour cost incurred 350,000 Factory manager's salary 35,000 Selling and administrative expense 300,000 Indirect Labour cost incurred 90,000 Factory machine rent 40.000 Depreciation on factory building 26,000 Property taxes, factory building 6,000 Depreciation on factory equipment 24,000 Insurance on factory and equipment 14,000 Delivery expenses 100,000 Work in Process inventory, 1 January 2021 80,000 Work in Process inventory, 31 December 2021 50,000 Finished goods inventory, 1 January 2021 1 10,000 Finished goods inventory, 31 December 2021 120,000 Factory utilities 65,000 Sales Commisions 150,000 Required (Maximum 250 words for Question C) A. Prepare Schedule of cost of goods sold and Income statement. (5 Marks) B. Assume that Sydney Manufacturing Pty Ltd accounting record show the balance of the following current asset accounts; Cash $17,000; Account receivable (net) $120,000; Prepaid Expenses $47,000, and Short term investments $26,000. Prepare the current assets section of the balance sheet for Sydney Manufacturing Pty Ltd as of December 31,2021. (5 Marks) C. What is the relationship between the Schedule of Cost goods manufactured and cost of goods sold in Sydney Manufacturing Pty Itd