Accounting exercise vol.2

The following information is available for the Metallic Ground company for the year 2019: 1/1/2019 beginning of 31/12/2019 the yar End of the yar Raw materials 0 inventory balance Work in process E800 E700 inventory balance Finished goods E600 6750 inventory balance Direct materials used (3750 Net sales (20,585 Direct labor 65,000 Manufacturing $10,000 overhead General and E3,000 administrative expenses Selling expenses E3,000 Income tax paid 61,000 A. What are the total manufacturing costs charged to work in process? B. What are costs of finished goods manufactures! C. What is the cost of goods sold? D. What is the gross profit! E. What is the operating income! Show calculations. EX 6.1 Jerrys corporation provided the following summary balance sheet information: Dec.31. 20X8 Dec.31. 20X9 Total assets E3,000,000 (3,800,000 Total liabilities 1,000,000 1,800,000 Compute net income or loss for the year ending December 31, 20X9 having in mind that Jerrys paid no dividends, but raised $1,000,000 via issuances of additional shares of stock Show all calculations