Shown here are annual financial data at December 31, 2017, taken from two different companies. Music World Wave-Board Retail Manufacturing Beginning inventory Merchandise $185, 000 Finished goods $320, 000 Cost of purchases 240,000 Cost of goods manufactured 570,000 Ending inventory Merchandise 160,000 Finished goods 280,000 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 0 Cost of goods sold $ 0Required: 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 Manufacturing Business. WAVE-BOARD MFG. Partial Income Statement For Year Ended December 31, 2017 Cost of goods sold Goods available for sale 0 Cost of goods sold 0