1-27 Points (to save time, copy the problem and paste it in Excel) At the end of December 2020, the accountant for a manufacturing company, CL Corp, assembled financial data, with the following balances: Work in Process inventory, December 31, 2020 Finished Goods Inventory, December 31, 2019 Finished Goods Inventory December 31, 2020 $820 0 9,500 Sales Revenue 110,000 Customer service hotline expense 1,400 Utilities for plant 4,800 Delivery Expense 2,000 Sales salaries expense 5,200 Plant Janitorial Services 2,000 Direct Labour 24,000 Direct Material Purchases 34,000 Rent cost, manufacturing plant 9,200 Raw Materials inventory, December 31, 2019 16,000 12,000 0 Raw Materials inventory, December 31, 2020 Work in process inventory, December 31, 2019 1. Prepare a Schedule of Cost of Goods Manufactured for CL Corp, for the year ended December 31, 2020. (see example, pg 36, Exhibit 2-8) 2. Prepare an Income Statement for CL Corp, for the year ended December 31, 2020. (see example pg 34)