requirea iniormation Problem 10-27 Schedule of cost of goods manufactured and sold LO 10-3 (The following information applies to the Antioch Company makes eBook readers. T $669,000: Raw Materials Inventory. $63,000, Work in Process Inventory. $28,000, Finished Goods Inventory $44.000 2018. Other than the adjusting entries for depreciation, assume that all transactions are cash transactions ons displayed below pany had the following amounts at the beginning of 2018: Cash, n Stock, $597000; and Retained Earnings, $207000. Antioch experienced the following accounting events during 1. Paid $28,000 of research and development costs. 2 Paid $62,000 for raw materials that will be used to make eBook readers 3. Placed S92,000 of the raw materials cost into the process of manufacturing eBook readers. 4. Paid $79,000 for salaries of selling and administrative employees 5. Paid $108,000 for wages of production workers 6. Paid $87,000 to purchase equipment used in selling and administrative offices. 7. Recognized depreciation on the office equipment. The equipment was acquired on January 1, 2018. It has a $17,000 salvage value and a seven-year life. The amount of depreciation is computed as [(Cost- salvage) useful life] Specifically. ($87,000 $17000)+7-$10.000. 8. Paid $186,000 to purchase manufacturing equipment. 9. Recognized depreciation on the manufact equipment. The equipment was acquired on January 1, 2018. t has a $24,000 salvage value and a nine-year life. The amount of depreciation is computed as ((Cost- salvage) useful life]. Specifically, ($186,000- $24,000) 9-$18,000. 10. Paid $60,000 for rent and utility costs on the manufacturing facility 11. Paid $70,000 for inventory holding expenses for completed eBook readers (rental of warehouse space, salaries of warehouse personnel, and other general storage cost). 12 Completed and transferred eBook readers that had total cost of $252,000 from work in process inventory to finished goods 13 Sold 930 eBook readers for $432,000 14. It cost Antioch $176,700 to make the eBook readers sold in Event 13. Pre 23fNext> of 2 c-2. Prepare a formal inc me statement for the year. ANTIOCH COMPANY Income Statement For the Year Ended December 31, 2018 ed ces c-3. Prepare a balance sheet for the year