Required: a. Prepare the \\( 20 Y 8 \\) statement of cost of goods manufactured. Be sure to complete the statement heading. Refer fo the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign b. Prepare the \\( 20 Y 8 \\) income statement. Be sure to complete the statement heading. Reter to the ist of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive Office salaries expense Purchases Property taxes-factory Property taxes-office building Rent expense-tactory Supplies-factory Sales Sales salaries expense Total manufacturing costs incurred in \\( 20 \\mathrm{Y} 8 \\) Total factory overhead Total manufacturing costs Total operating expenses Work in process inventory, December \\( 31,20 \\mathrm{YB} \\) Work in process inventory, January 1, 20 Y 8 Labels and Amount Descriptions Labels For the Year Ended December 31, 20 Y8 For the Month Ended December 31, 20 Y 8 Amount Descriptions Advertising expense Cost of direct materials used in production Cost of finished goods available for sale Cost of goods manufactured Cost of goods sold Cost of materials available for use Depreciation expense-factory equipment Depreciation expense-office equipment Direct labor Finished goods inventory, December 31, 20 Y 8 Finished goods inventory, January 1, 20 Y8 Gross profit Heat, light, and power-factory Indirect labor Materials inventory, December 31, \\( 20 \\mathrm{Y} 8 \\) Materials inventory, January 1, 20Y8 Miscellaneous costs-factory Net income Office salaries expense b. Prepare the 20rg income statement. Be sure to complete the statement heading. Refer to the list of Labels and. Amount Descriptions provided for the exact warding of the answor choices for text entries. Enter amounts as positve numbers unless the amount is a catculation that resuls in a nogatve amount For example: Not loss should bo negative: Expenses should be positive. a. Prepare the \\( 20 y 8 \\) statement of cost of goods manufactured Be sure to compiete the statement heading. Aeter fo the list of Label's and Amount Oescripbons provided for the exact