Various cost and sales data for Medco Inc. are given for the year December 31, 2016: Purchases of raw materials......... Raw materials inventory, beginning.. Raw materials inventory, ending. Depreciation, factory... Insurance, factory. Direct labour.... Maintenance, factory Administrative expenses. Sales.... Utilities, factory.. Supplies, factory. Selling expenses.. Indirect labour.. Work in process inventory, beginning.. Work in process inventory, ending... Finished goods inventory, beginning. Finished goods inventory, ending. Required: $90,000 10,000 17,000 42,000 5,000 60,000 30,000 70,000 450,000 27000 1,000 80,000 65,000 7,000 30,000 10,000 40,000 1. Prepare a schedule of cost of goods manufactured. (Do this on the back of the page) 2. Prepare an income statement. (Do this below)