Suppose that applied accounts of a production company is as attached. The inventory balances is as follows: raw materials (beginning: 140.000 $, ending: 115.000 $), work-in process (beginning: 60.000 $, ending: 55.000 $) and finished goods (beginning: 65.000 $, ending: 80.000 $). The sales revenue is 2.000.000 $.

1. Prepare the statement of cost of goods sold?

2. Prepare the income statement?

Applied to the cost Applied to the Applied to the idle Applied to the cost of TOTAL of production period costs capacity losses PPE Direct materials cost applied account 850,000.00 20,000.00 870.00 Direct labor cost applied account 250,000.00 10,000.00 260.00 Factory overhead applied account 400,000.00 10,000.00 40,000.00 450,000.00 Selling expenses applied account 70,000.00 70,000.00 General adm. Exp. Applied account 120,000.00 120,000.00 Financing expenses applied account 30,000.00 15,000.00 45,000.00 TOTAL 1,500,000.00 230,000.00 40,000.00 45,000.00 1,815,000.00