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 $ 29,00 8, eee 9,00 51,000 610, eee 36,300 33,200 404,000 61,080 37, Be 22, eae 53, eee 127.00 jes, Bee 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 $ 122,eee 127, see 37,000 2,122,00 41,000 52, see 68, cee Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the current year. LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials Raw materials inventory beginning S Raw materials purchases 122.000 810,000 Raw materials available for use 732.000 Less Raw materials inventory, ending 127,000 Direct materials used S 605.000 Factory overhead Total factory overhead Total manufacturing costs 805.000 Total cost of work in process 8051000 cost of goods manufactured 5 6041500 Required 2 > 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 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 0 Cost of goods sold 0