Required information Skip to question [The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense $ 28,750 Depreciation expenseOffice equipment 7,250 Depreciation expenseSelling equipment 8,600 Depreciation expenseFactory equipment 49,325 Raw materials purchases (all direct materials) 925,000 Maintenance expenseFactory equipment 35,400 Factory utilities 33,000 Direct labor 675,480 Indirect labor 159,475 Office salaries expense 63,000 Rent expenseOffice space 22,000 Rent expenseSelling space 26,100 Rent expenseFactory building 76,800 Sales salaries expense 392,560 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning $ 166,850 Raw materials inventory, ending 182,000 Work in process inventory, beginning 15,700 Sales 4,462,500 Work in process inventory, ending 19,380 Finished goods inventory, beginning 167,350 Finished goods inventory, ending 136,490 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement.