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 $ 68,000 47,000 48,000 Depreciation expense-Factory 90,000 equipment Raw materials purchases (all direct materials) 1,000,000 Maintenance expense-Factory 48,000 equipment Factory utilities Direct labor Indirect labor 41,000 560,000 84,000 Office salaries expense 50,000 Rent expense-Office space 30,000 Rent expense-Selling space 72,000 Rent expense-Factory building 173,000 Sales salaries expense 415,000 $ 200,000 Raw materials inventory, 205,000 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning ending Work in process inventory, 60,000 beginning Sales 3,251,000 Work in process inventory, 64,000 ending Finished goods inventory, 84,000 beginning Finished goods inventory, 92,000 ending Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare the schedule of cost of goods manufactured for the current year. LEONE COMPANY Schedule of Cost of Goods Manufactured Direct materials For Year Ended December 31 Raw materials available for use 0 Direct materials used $ 0 Factory overhead Total factory overhead Total manufacturing costs 0 0 Total cost of work in process 0 Cost of goods manufactured $ 0 < Required 1 Required 2 > Required Required 1 2 Prepare the current year income statement. LEONE COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale 0 Cost of goods sold 0 0 $ 0 < Required 1 Required 2 >