The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $725,000 the unadjusted cost of goods sold totaled $666,000; and the net operating income was $38,000. The company's underapplied or overapplied overheadis closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Prepare an income statement for the year. Prepare a schedule of cost of goods sold. Prepare a schedule of cost of goods manufactured. The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $725,000 the unadjusted cost of goods sold totaled $666,000; and the net operating income was $38,000. The company's underapplied or overapplied overheadis closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Prepare an income statement for the year. Prepare a schedule of cost of goods sold. Prepare a schedule of cost of goods manufactured