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The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company.

Advertising expense$ 61,000Depreciation expenseOffice equipment40,000Depreciation expenseSelling equipment41,000Depreciation expenseFactory equipment83,000Raw materials purchases (all direct materials)930,000Maintenance expenseFactory equipment45,900Factory utilities39,600Direct labor532,000Indirect labor80,000Office salaries expense48,000Rent expenseOffice space29,000Rent expenseSelling space70,000Rent expenseFactory building168,000Sales salaries expense403,000

Using the following additional information for Leone Company, complete the requirements below.

Raw materials inventory, beginning$ 186,000Raw materials inventory, ending191,000Work in process inventory, beginning56,000Sales3,064,000Work in process inventory, ending60,000Finished goods inventory, beginning78,000Finished goods inventory, ending86,000

Required:

1. Prepare the schedule of cost of goods manufactured for the current year.
2. Prepare the current year income statement.