The following information is available for Avatar Company: Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Sales revenue Sales discounts Sales staff salaries Advertising costs Rent on office building Indirect labor |Depreciation on factory equipment Rent on factory building Plant manager salary Jan. 1, 2019 2019 Dec. 31, 2019 $ 11,000 $ 30,000 14,500 17,800 27,000 23,000 160,000 230,000 950,000 5,000 80,000 30,000 18,000 12,000 30,000 20,000 90,000 1.) Prepare the company's schedule of cost of goods manufactured. 2.) Compute the company's cost of goods sold. 3.) Prepare the company's income statement.