use cell formulas

2. Prepare the income statement for 2017. Carolina Corporation Income Statement Year Ended December 31, 2017 Cost of goods sold: Cost of goods sold Gross margin Operating Costs: Total operating costs Operating income (loss) An Introduction to Cost Terms and Purposes Cost of goods manufactured, income statement, manufacturing company Free work cells Answer cells Consider the following account balances for the Carolina Corporation: Beginning of 2017 136,400 190,300 264,000 Carolina Corporation Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation-plant, building, and equipment Plant utilities Repairs and maintenance-plant Production equipment leasing costs Marketing, distribution, and customer-service costs General and administrative costs Revenues End of 2017 76,650 152,250 216,300 275,100 227,850 101,850 9,450 47,250 27,300 12,600 68,250 131,250 74,550 1,365,000