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

Advertising expense	$ 44,000
Depreciation expenseOffice equipment	23,000
Depreciation expenseSelling equipment	24,000
Depreciation expenseFactory equipment	66,000
Raw materials purchases (all direct materials)	760,000
Maintenance expenseFactory equipment	40,800
Factory utilities	36,200
Direct labor	464,000
Indirect labor	70,000
Office salaries expense	42,000
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	$ 152,000
Raw materials inventory, ending	157,000
Work in process inventory, beginning	46,000
Sales	2,554,000
Work in process inventory, ending	50,000
Finished goods inventory, beginning	64,000
Finished goods inventory, ending	72,000

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

Required 1

Required 2

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	0
Direct materials used		$0
Factory overhead
Total factory overhead		0
Total manufacturing costs		0
Total cost of work in process		0
Cost of goods manufactured		$0

Required 2

Prepare the current year income statement.

LEONE COMPANY
Income Statement
For Year Ended December 31
Cost of goods sold
Goods available for sale	0
Cost of goods sold		0
		0
		$0