Using the information from problem 14-2b and the following additional inventory information for best bikes, complete the requirements below. assume income tax expense is $136,700 for the year. inventoriesraw materials, december, 31 2016 $40,375raw materials, december, 31 2017 70,430work in process, december, 31 2016 12,500work in process, december, 31 2017 14,100finished good, december, 31 2016 177,200finished good, december, 31 2017 141,750(a) prepare the company's 2017 schedule of cost of goods manufactured.(b) prepare the company's 2017 income statement that reports separate categories for (1) selling expenses and (2) general and administrative expenses

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?