Shown here are annual financial data at December 31, 2017, taken from two different companies Music World Wave-Board RetailManufacturing Beginning inventory Merchandise Finished goods $135,000 $370,000 Cost of purchases Cost of goods manufactured Ending inventory 330,80e 581,00e Merchandise Finished goods 150,808 156,080 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 Mfo Business Prepare the cost of goods sold section of the income statement at December 31, 2017, for company in Merchandising Business. MUSIC WORLD RETAI Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale Cost of goods sold Shown here are annual financial data at December 31, 2017, taken from two different companies Music World Wave-Board Retail Manufacturing Beginning inventory Merchandise Finished goods $135,00e $370,000e Cost of purchases Cost of goods manufactured 330,000 581,000 Ending inventory Merchandise Finished goods 150,000 150,000 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 BusinessMfg Busines 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 Mig Business