Schedule of cost of goods manufactured and sold; income statement: manufacturer Matilda Surt Gear, a manufacturer of sports and beach wear, had the following inventory balances at the beginning and end of the year. 1 Determine the missing amount in each of the independent cases Jo Inventory classification Raw material Work in process Finished goods 1 January 55000 110000 160000 31 December $ 75000 125000 155000 ear the company purchas $240000o raw material and spekt $420 000f During the year, the company purchased direc t labour. Manufacturing costs were as tollows Indirect material Indirect labour Depreciation on plant and equipment Utilities Other $ 12000 22000 110000 23000 35000 revenue was $1 210000 for the vear.Selling and administrative costs for the year ted to $105000. The firm's tax rate is 35 per cent. Sales n Motorial Vsed Required: 1 Prepare a schedule of cost of goods manufactured. 2 Prepare a schedule of cost of goods sold 1u., Prenare an income statement 4 Construct an Excel spreadsheet to solve all of the preceding requirements, Show how both cost schedules and the income statement will change if the following data change: direct labour is $410 000 and utilities cost $24000