The following information pertains to the Satyam Company for the year ending December 31, 2019. Revenue Interest expense Purchases of direct materials Indirect Labour Beginning direct material Indirect Materials Supplies expense [factory] Supplies [factory] Depreciation of factory machines Depreciation of factory Plant Depreciation of shop Unearned revenue Selling commission Marketing costs Wages [Store] Insurance expense [shop] Prepaid insurance Expense [store] Supplies expense [store] Utilities [store] Direct Labor Hours Hourly Rate for direct labour Direct materials inventory Dec 31 2019. Work in process Jan 1 2019 Sales Return/ allowances Rent revenue Work in process Dec 31 2019 Sales Discounts Finished Goods Inventory Jan 1 2019 Finished Goods Inventory Dec 31 2019 . . . . F A $ 120,000 1300 25,000 3,000 1850 3,000 2,500 7540 2,000 2300 4,000 5620 1200 2200 6,000 2300 1450 5,000 2,500 15 7,000 3,000 2100 4,000 2,000 1,000 6,000 2500 Hours 4500 REQUIRED 1. Prepare a COGM statement for year end 2. Calculate cost of goods sold 3. Prepare an income statement [ assume income tax rate to be 15%] for year end