The following information has been taken from the accounting records of Serenna Corporation for the year 2021. Selling expenses Raw materials inventory, January 1 Raw materials inventory, December 31 Utilities (70% for factory and the remaining balance for administrative office) Depreciation (80% for factory and the remaining balance for administrative office) Direct labor cost Purchases of raw materials Sales Insurance, factory Supplies, factory Administrative expenses Indirect labor Maintenance, factory Work in process, January 1 Work in process, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 RM95,000 210,000 100,000 40,000 90,000 165,000 850,000 10,700,000 36,000 15,000 235,000 254,000 65,000 220,000 120,000 255,000 165,000 Management wants these data organized in a better format so that financial statements can be prepared for the year.. REQUIRED : a. Prepare a Schedule Of Cost Of Goods Manufactured. b. Prepare an Income Statement.