Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense Depreciation expense-Office equipment Depreciation expense-Selling equipment Depreciation expense-Factory equipment Raw materials purchases (all direct materials) Maintenance expense-Factory equipment Factory utilities Direct labor Indirect labor Office salaries expense Rent expense-Office space Rent expense-Selling space Rent expense-Factory building Sales salaries expense $ 54,000 33,000 34,000 76,000 860,000 43,800 38,200 504,000 76,000 46,000 28,000 67,000 161,000 386,000 Problem 14-3A (Algo) Schedule of cost of goods manufactured and income statement LO P1, P2 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Sales Work in process inventory, ending. Finished goods inventory, beginning Finished goods inventory, ending Required: $ 172,000 177,000 52,000 2,868,000 56,000 73,000 81,000 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Direct materials LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials available for use Direct materials used Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Prepare the current year income statement. LEONE COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold < Required 1 Required 2