Problem #2 The following selected account balances are provided for Buffalo Bills Mfg. Sales Revenue $ 1,375,000 Raw materials inventory, beginning 1/1/20 45,000 Work in process inventory, beginning 1/1/20 51,700 Finished goods inventory, beginning 1/1/20 64,600 Raw materials purchases 164,300 Direct labor 231,000 Factory supplies used (FOH) 19,500 Indirect labor (FOH) 50,000 Repairs-Factory equipment (FOH) 5,250 Rent cost of factory building (FOH) 58, 000 Advertising expense (SGA) 89,000 General and administrative expenses (SGA) 131,000 Raw materials inventory, ending 12/31/20 41,900 Work in process inventory, ending 12/31/20 40,400 Finished goods inventory, ending 12/31/20 72, 700 Required: (all work must be shown for credit) 1. Prepare the cost of goods manufactured statement. 2. Prepare the cost of goods sold statement. 3. Prepare the income statement