Spritz2 Company, a soft-drink producers, had the following inventory balances at the beginning and end of the current year (in $): Inventory account 1 January 31 December Raw material 167000 186000 Work in process 329000 296000 Finished goods 428000 476000 During the year, the company has incurred the following costs (in $): Raw material purchased 580000 Machine operators' wages 1080000 Indirect materials 42000 Indirect labour 80000 Depreciation on plant and equipment 320000 Depreciation on office equipment 15000 Rental of office space for sales personnel 30000 Utilities for factory 60000 Utilities for office 10000 Other related-product cost 83000 Selling and administrative cost 264000 Sales personnel's commission 132600 Total overtime premiums paid to the machine operators in factory is 30% over the normal pay rate. Sales revenue was $3 152 000 for the year. The firm's tax rate is 30 per cent. Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. 3. Prepare an income statement