! Required information [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 Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense $ 45,000 24,000 25,000 67,000 770,000 41,100 36,400 468,000 70,000 42,000 25,000 60,000 144,000 346,000 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Sales Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Required: $ 154,000 159,000 46,000 2,576,000 50,000 64,000 72,000 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Direct materials LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials inventory, ending Raw materials available for use Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured 0 $ 0 0 0 0 $ 0 Required 1 Required 2 Prepare the current year income statement. LEONE COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold 0 < Required 1 Required 2 0 0 0