Required information Use the following information for the Problems below. (Algo) [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- $ 62,000 41,000 42,000 84,000 940,000 46,200 39,800 536,000 80,000 48,000 29,000 70,000 168,000 403,000 Problem 1-3A (Algo) Schedule of cost of goods manufactured and income statement LO P1, P2 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 $188,000 193,000 56,000 ces Problem 1-3A (Algo) Schedule of cost of goods manufactured and income statement LO P1, P2 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: $ 188,000 193,000 56,000 3,086,000 60,000 78,000 86,000 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 Sales $ 3,086,000