A partial list of Waterways accounts and their balances for the month of November follows.

Accounts Receivable $ 295,000

Advertising Expenses 54,000

Cash 260,000

DepreciationFactory Equipment 16,800

DepreciationOffice Equipment 2,500

Direct Labor 22,000

Factory Supplies Used 16,850

Factory Utilities 10,200

Finished Goods Inventory, November 30 68,300

Finished Goods Inventory, October 31 72,550

Indirect Labor 48,000

Office Supplies Expense 1,400

Other Administrative Expenses 72,000

Prepaid Expenses 41,250

Raw Materials Inventory, November 30 52,700

Raw Materials Inventory, October 31 38,000

Raw Materials Purchases 185,400

RentFactory Equipment 47,000

RepairsFactory Equipment 4,200

Salaries 325,000

Sales 1,350,000

Sales Commissions 40,500

Work In Process Inventory October 31 52,900

Work In Process Inventory, November 30 42,000

Instructions

(b) A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule, an income statement, and the current assets section of the balance sheet for Waterways Corporation for the month of November.