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 $ 38,900 Depreciation expense-Office equipment 17,600 Depreciation expense-Selling equipment 18,000 Depreciation expense-Factory equipment 60,900 Raw materials purchases (all direct materials) 780,009 Maintenance expense-Factory equipment 39,000 Factory utilities 35,909 Direct labor 440,900 Indirect labor 66,090 Office salaries expense 40,000 Rent expense Office space 24,090 Rent expense-Selling space 58,090 Rent expense-Factory building 139,000 Sales salaries expense 334,900 Using the following additional information for Leone Company, complete the requirements below.Raw materials inventory, beginning $ 140,090 Raw materials inventory, ending 145,900 Work in process inventory, beginning 42,900 Sales 2,389,000 Work in process inventory, ending 46,900 Finished goods inventory, beginning 59,900 Finished goods inventory, ending 67,000 Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement.Required information LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials Raw materials available for use Direct materials used Factory overheadRequired information Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Required information 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 Required 2 3