Shown here are annual financial data at December 31, 2017, taken from two different companies. Wave-Board Manufacturing Music World Retail Beginning inventory Merchandise $195,000 Finished goods Cost of purchases 300,000 Cost of goods manufactured Ending Inventory Merchandise 180,000 Pinished goods $360,000 574,000 200,000 Required: 1. Prepare the cost of goods sold section of the income statement at December 31, 2017, for each company in Merchandising Busine and Manufacturing Business. Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Prepare the cost of goods sold section of the income statement at December 31, 2017, for company in Merchandising Business. MUSIC WORLD RETAIL Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale Cost of goods sold Complete this question by entering your answers in the tabs below. Merch Business Mfg Business Prepare the cost of goods sold section of the income statement at December 31, 2 Business. WAVE-BOARD MFG. Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale Cost of goods sold