The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company.

Advertising expense	$ 42,000
Depreciation expenseOffice equipment	21,000
Depreciation expenseSelling equipment	22,000
Depreciation expenseFactory equipment	64,000
Raw materials purchases (all direct materials)	740,000
Maintenance expenseFactory equipment	40,200
Factory utilities	35,800
Direct labor	456,000
Indirect labor	68,000
Office salaries expense	41,000
Rent expenseOffice space	25,000
Rent expenseSelling space	60,000
Rent expenseFactory building	144,000
Sales salaries expense	346,000

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

Raw materials inventory, beginning	$ 148,000
Raw materials inventory, ending	153,000
Work in process inventory, beginning	44,000
Sales	2,506,000
Work in process inventory, ending	48,000
Finished goods inventory, beginning	62,000
Finished goods inventory, ending	70,000

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