12. Fill out part C, based off information found in part A and B.

Prepare the balance sheet section of the manufacturing inventories at May 31, 2022. At May 31, 2022, the accounts of Sandhill Company show the following. 1. May 1 inventories-finished goods $12,330, work in process $14,370, and raw materials $8,000. 2. May 31 inventories-finished goods $9.310, work in process $15,600, and raw materials $6,940. 3. Debit postings to work in process were direct materials $61,170, direct labor $49,000, and manufacturing overhead applied $39,200. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $210,700. (a) Prepare a condensed cost of goods manufactured schedule for May 2022. (b) Prenare an income statement for Mav 2022 through gross nrofit