Shown here are annual financial data at December 31, 2017, taken from two different companies Music World Wave-Board Manufacturing Retail $215,000 210,000 Beginning inventory Merchandise Finished goods $390,000 Cost of purchases Cost of goods manufactured Ending inventory 574,000 120,000 Merchandise Finished goods 290,000 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 Merch Mfg Business