The following data relates to the Woodland Co.'s annual operation: Direct Materials Inventory, Beginning Direct Materials Inventory, Ending Direct Materials Purchased Direct Labor Factory Overhead Work-in-Process Inventory, Beginning Work-in-Process Inventory, Ending Finished Goods Inventory, Beginning Finished Goods Inventory, Ending $1,000 $900 $8,000 $6,000 $7,000 $2,000 $2,100 $9,500 $8,500 Sales Revenue Selling and Administrative Expenses $70,000 $20,000 Income Tax Rate 20% Required) Please answer the following questions and show all your works to get full credits a. Prepare the company's Cost of Goods Manufactured Schedule b. Prepare the company's Income statement