Relow are data for F: Welch Machine Please note additional information beginning in cell B25. **Also note that you may use some or all of the information here. ** Remember the relationship between the accousts **Good luck! abed Please prepare an income statemeat in good form through operating income. Please present all nonproduction (Le., operating) expenses in obe cell. Cemmeat on the company's relative profitability and inventory management. Support with evidence (ie., calculations). Explore the relationthips between aceounts to asist the compasy in impreving its operations. Below are data for F. Welch Machine \begin{tabular}{|lrr|} \hline Additional information: & & \\ Beginning Raw Materials & 98,000 \\ Beginning Work in Process & $ & 49,000 \\ Beginning Finished Goods & $ & 87,300 \\ Property taxes are & & 70% factory, the remainder nonproduction \\ Fire insurance is & & 80% factory, the remainder nonproduction \\ Utilities are & & 75% factory, the remainder nonproduction \\ \hline \end{tabular} Please note additional information beginning in cell B25. \begin{tabular}{l} Also note that you may use some or all of the information here. \\ ** Remember the relationship between the accounts. \\ **Good luck! \\ \hline \end{tabular} abed Please prepare an income statement in good form through operating income. Please present all nonproduction (i.e., operating) expenses in one cell. Comment on the company's relative profitability and inventory management. Support with evidence (L.e., calculations). Explore the relationships between accounts to assist the company in improving its operations