SHOW CALCULATIONS AND FORMULAS for problem OR NO CREDIT GIVEN

7. Martin Marietta Manufacturing Company has developed the following information for the year ended December 31, 2017: Work In Process Inventory, December 31 Finished Goods Inventory, December 31 Raw Materials Inventory, December 31 Raw Materials purchases Plant manager's salary Operating expensesS Factory depreciation expense Factory utilities expense Factory repair expense Direct labor Indirect labor Sales revenue Sales discounts Work In Process Inventory, January 1 Finished Goods Inventory, January 1 Raw Materials Inventory, January 1 $ 30,000 52,000 20,000 35,000 5,000 50,000 2,000 4,000 3,000 25,000 7,000 350,000 10,000 60,000 42,000 40,000 INSTRUCTIONS A. Prepare a Cost of Goods Manufactured Schedule for the year ended December 31, 2017 B. Prepare a complete income statement for the year ended December 31,2017