Problem 2 (10 points) Reddy Company commenced operations in 2012. The company provided the following information for the year ended December 31, 2012. C Administrative costs 15,000 Depreciation on factory equipment 6,000 Indirect materials 1,000 Marketing and distribution costs 12,000 Salaries for factory supervisors 10,000 Wages for production workers 13,000 Raw materials used 19,000 Sales revenue 98,000 Selling costs 9,000 Utilities for production facilities 4,000 Ending work in process inventory 20,000 Ending finished goods inventory 10,000 Required: 1) Prepare a schedule of cost of goods manufactured and sold for the year ended December 31, 2012. 2) Prepare an income statement for the year ended December 31, 2012.