25. The following information is available for Marks Company at December 31, 2019: 1. Inventory balance Finished Goods Work in Process Raw Materials Beginning of Year $14,000 6,000 10,300 End of Year $10,000 12,000 6,500 2. Debit postings to Work in Process Inventory during the year were: Direct materials $90,000 Direct labor 60,000 Manufacturing overhead applied 75,000 3. Sales totaled $310,000 for the year. ! Instructions (a) Prepare a condensed cost of goods manufactured schedule. (b) Prepare an income statement for the year through gross profit