Rockeagle Corporation began fiscal Year 2 with the following balances in its inventory accounts. 10pointsRawMaterialsWorkinProcessFinishedGoods$30,00045,00014,000 During the accounting period, Rockeagle purchased $125,000 of raw materials and issued $124,000 of materials to the production department. Direct labor costs for the period amounted to $162,000, and manufacturing overhead of $24,000 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $306,000 to produce were completed and transferred to Finished Goods Inventory. Goods costing $301,000 were sold for $400,000 during the period. Selling and administrative expenses amounted to $36,000. Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b1. Prepare a schedule of cost of goods manufactured and sold. b2. Prepare an income statement. Complete this question by entering your answers in the tabs below. b1. Prepare a schedule of cost of goods manufactured and sold. b2. Prepare an income statement. 10 points Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured and sold. Prepare an income statement