Required information Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] The following year-end information is taken from the December 31 adjusted trial balance and other records of Leone Company. Advertising expense $ 58,000 Depreciation expense-Office equipment 37,000 Depreciation expense-Selling equipment 38,000 Depreciation expense-Factory equipment 80,000 Raw materials purchases (all direct materials) 900,000 Maintenance expense-Factory equipment 45,000 Factory utilities 39,000 Direct labor 520,000 Indirect labor 78,000 Office salaries expense 47,000 Rent expense-Office space 28,000 Rent expense-Selling space 67,000 Rent expense-Factory building 161,000 Sales salaries expense 386,000 Problem 14-3A (Algo) Schedule of cost of goods manufactured and income statement LO P1, P2 Using the following additional information for Leone Company, complete the requirements below. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Sales Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Required: $ 180,000 185,000 54,000 2,960,000 58,000 76,000 84,000 1. Prepare the schedule of cost of goods manufactured for the current year. 2. Prepare the current year income statement. Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the current year. LEONE COMPANY Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials Raw materials available for use Direct materials used Factory overhead 0 $ 0 Factory overhead Total factory overhead Total manufacturing costs Total cost of work in process 0 0 0 Cost of goods manufactured 0 Required 1 Required 2 > Prepare the current year income statement. LEONE COMPANY Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold 0 0 0 0