(Solved): Complate chart The following information is available for Lagakos Corporation for \( 20 \mathrm{Y} 8 ...

The following information is available for Lagakos Corporation for \( 20 \mathrm{Y} 8 \) : Required: 1. Prepare the statement of cost of goods manufactured." 2. Prepsre the income statement. " "Be sure to complete the statement heading Refer to the Labels and Annount Descriptions bst provided for the exact wording of the answer choves for text entries. "Less' or 'Pius' will automstically appear if it is required. Enter all amounts as positive numbers Labels and Amount Descriptions Labels For the Year Ended December 31, \( 20 \mathrm{Y} 8 \) For the Month Ended December 31 At Year Ended December 31, \( 20 \mathrm{Y} 8 \) Amount Descriptions Advertising expense Cost of direct materials used Cost of finished goods available for sale Cost of goods manufactured Cost of goods sold Cost of materials available for use Depreciation expense-factory equipment Depreciation expense-office equipment Direct labor Finished goods inventory, December 31, \( 20 \mathrm{Y} 8 \) Finished goods inventory, January 1, \( 20 \mathrm{Y} 8 \) Gross profit Heat, light, and power-factory Indirect labor Indirect labor Materials inventory, December 31, \( 20 \mathrm{Y} 8 \) Materials inventory, January \( 1,20 \mathrm{Y} 8 \) Miscellaneous costs-factory Net income Office salaries expense Property taxes-factory Property taxes-office building Purchases Rent expense-factory Sales Sales salaries expense Supplies-factory Total manufacturing costs incurred Total operating expenses Work in process inventory, December \( 31,20 \mathrm{Y} 8 \) Work in process inventory, January \( 1,20 \mathrm{Y} 8 \) 1. Prepare the stotennent of cast of poods manufactured Be sure to complete the statennent heading. Fiefer fo the Labels and Ancunt Descritions ist provised for the exact worling of the anismer choices for text entries. 2ess' or 'Plus' wili automationly appear if it is required. Erier af amounts as postve numbera 10 Indirect labor 11. Depreciation expensefactory equipment 12 Heat light, and power-factory 13 Property taxes-factory 14 Rent expense-factory 15 Supplies-factory 16 Miscellaneous costs-factory 17 Total factory overhead 18. Totat manufacturing costs incurred 19. Total manufacturing costs 20 Less Work in process inventory, December \( 31,20 \mathrm{Y} 8 \) 21 Cost of goods manufactured 2. Prepare the income statement. Be sure to complete the statement heading. Refer to the Labets and Amount Descriptions tist prowided for the oxact working of ithe answer choices for iext enties "Less" or "Pus" wit automatically appear it t is required. Enter ari announts as postive numbers. 2 Cost of goods sold: 3 Finished goods inventory, January 1, \( 20 Y 8 \) 4 Cost of goods manufactured 5 Cost of finished goods available for sale 6 Less finished goods irventory, December 31, \( 20 \mathrm{Y} 8 \) 7 Cost of goods sold 8 Gross profit 9 Operating expenses: 10 Administrative expenses: i1 Depreciation expense-office equipment 12 Office salaries expense 13 Property taxes-office building 14 Selling expenses: 15 Advertising expense 16 Sales salarles expense 17 Total operating expenses 14. Net income