[The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company.

Advertising expense	$ 38,000
Depreciation expenseOffice equipment	17,000
Depreciation expenseSelling equipment	18,000
Depreciation expenseFactory equipment	60,000
Raw materials purchases (all direct materials)	700,000
Maintenance expenseFactory equipment	39,000
Factory utilities	35,000
Direct labor	440,000
Indirect labor	66,000
Office salaries expense	40,000
Rent expenseOffice space	24,000
Rent expenseSelling space	58,000
Rent expenseFactory building	139,000
Sales salaries expense	334,000

Using the following additional information for Leone Company, complete the requirements below.

Raw materials inventory, beginning	$ 140,000
Raw materials inventory, ending	145,000
Work in process inventory, beginning	42,000
Sales	2,389,000
Work in process inventory, ending	46,000
Finished goods inventory, beginning	59,000
Finished goods inventory, ending	67,000

Required: 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement.

Prepare the schedule of cost of goods manufactured for the current year.

LEONE COMPANY
Schedule of Cost of Goods Manufactured
For Year Ended December 31
Direct materials
Raw materials available for use
Direct materials used
Factory overhead
Total factory overhead
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured

LEONE COMPANY
Income Statement
For Year Ended December 31
Cost of goods sold
Goods available for sale
Cost of goods sold

Please only right answers.