The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: Costs incurred: Direct labour cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70,000 Purchase of raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118,000 Indirect labour . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000 Maintenance, factory equipment . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000 Advertising expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 90,000 Insurance, factory equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 800 Sales salaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000 Rent, factories facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,200 Depreciation, office equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000 Depreciation, factory equipment . . . . . . . . . . . . . . . . . . . . . . . . . . 19,000 Beginning of End of the Year the Year Inventories: Raw materials . . . . . . . . . . . . . . . . . . $ 7,000 $ 15,000 Work in process . . . . . . . . . . . . . . . . 10,000 5,000 Finished goods . . . . . . . . . . . . . . . . . 20,000 35,000 Required: 1. Prepare a schedule of cost of goods manufactured in good form. 2. Prepare the cost of goods sold section of Mason Companys income statement for the year.