What is answer for 1,2 and 3

OBLEM 2-26 Income Statement: Schedule of Cost of Goods Manufactured PR LO1. LO2. LO3, LO4 The following information was taken from the accounting records of Mitchell Company for last year Selling expenses 140000 Raw materials inventory, January 1.... 90000 Raw materials inventory, December 31.. ilities,factory... 60000 62000 .750,000 2500000 Sales Insurance, factory Supplies, factory. Administrative expenses.. Indirect labour. Maintenance,factory... Work in process inventory, January 1 Work in process inventory, December 31. Finished goods inventory, January 1 Finished goods inventory, December 31 15000 300,000 87,000 180,000 260,000 Management wants to organize these data into a better format so that financial statements can be prepared for the year. Required: 1. Prepare a schedule of cost of goods manufactured as in Exhibit 2-4. 2. Compute the cost of goods sold. Using data as needed from (1) and (2) above. prepare an income statement