Exercise 2 Using the following information related to the activities performed by Beta Manufacturing in 2015: Inventories Work in process Materials Finished goods Beginning 15,000 24,000 31,000 Endi 6,400 29,000 41,300 Accounts payable Accounts receivable Advertising expense Depreciation of factory equipment5,800 Depreciation of office equipment Direct labor Direct materials Income tax Indirect labor Indirect materials Interest expense Interest payable Lease of manufacturing equipment Own work capitalized Plant maintenance Prepaid lease expense Research and development expense 2,400 Retained earnings Selling expenses Sales revenue 12,800 21,100 12,500 2200 41,000 21,500 8,500 16,800 8,500 6,500 1,800 3,200 5,000 2,600 850 158,000 7,400 121,100 Required - Choosing only the appropriate data among those presented above: a) b) c) Prepare a statement of cost of goods manufactured for 2016. Prepare a statement of cost of goods sold for the same period. Prepare an income statement using the cost of goods sold format, clearly showing the gross margin from sales and the operating income. d) Prepare an income statement using the value of production format, clearly showing the operating income