Shown here are annual financial data at December 31, 2017 taken from two different companies. Wave-Board Manufacturing Music World Retail Beginning inventory Merchandise $175,000 Finished goods Cost of purchases 340,000 Cost of goods manufactured Ending inventory Merchandise 150,000 Finished goods $320,000 583,000 190,000 Required: 1. Prepare the cost of goods sold section of the income statement at December 31, 2017, for each company in Merchandisin 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. 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 Merch Business Mig Business > 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 Year Ended December 31, 2017 Cost of goods sold Goods available for sale Cost of goods sold Merch Business Menu