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Describe how to prepare an income statement for a manufacturing company. Manufacturing Income Statement and Supporting Schedules Financial statement of Manufacturing Company Direct Material Begnning inventory 35,000.00$ Add: Purchases 93,900.00$ Freight in 1,100.00$ total. Sales Files on this page are PDF. Download Acrobat Reader(opens in new window) free of charge. 2023. Cover Image. 2022. Cover Image. 2022 Annual Report PDF FormatA manufacturing company uses purchased raw materials and/or parts to produce a product for sale. The value of each type of inventory is disclosed in a Intercompany transactions and balances between group companies are therefore eliminated in full. The consolidated financial statements incorporate the results Since the income statement shows revenues, expenses and net income and the balance sheet shows assets, liabilities, and capital, we can say that the purpose of Describe how to prepare an income statement for a manufacturing company. Question: Companies that provide services, such as Ernst & Young (accounting) and