Shown here are annual financial data at December 31, 2017, taken from two different companies, Wave-Board Manufacturing Music World Retail Beginning inventory Merchandise $155,000 Finished goods Cost of purchases 310,000 Cost of goods manufactured Ending inventory Merchandise 140,000 Finished goods $260,000 580,000 260,000 Required: 1. Prepare the cost of goods sold section of the income statement at December 31, 2017, for each company in Merchandising Business 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 Mfg Business Business Prepare the cost of goods sold section of the income statement at December 31, 2017, for company in Manufacturing Business. WAVE-BOARD MFG Partial Income Statement For Yoar Ended December 31, 2017 Cost of goods sold Goods available for sale Cost of goods sold Merch Business MIES