Accounting for by-product Potato skins are generated as a by-product in making potato chips and frozen hash browns at Zeena Foods. The skins are sold to restaurants for use in appetizers. Processing and disposal costs associated with by.product sales are 50.06 per pound of potato skins. During May. Zeena Foods produced and sold 135,000 pounds of potato skins for $20,250. In addition, the joint cost for producing potato chips and hash browns was $82,000; separate costs of production were 548,000 . In May, 90 percent of all joint production was sold for $319,000. Non-factory operating expenses for May were $47,850. a. Prepare an income statement for Zeena Foods assuming that by-product sales are shown as Other Revenue and the processing and disposal costs for the by-product are shown as additional cost of goods sold of the joint products Note: Do not use a negative sign with your answers b. Prepare an income statement for Zeena Foods assuming that the net realizable value of the by-product is shown as Other income. Note: Do not use a negative sign with your answers. c. Prepare an income statement for Zeena foods assuming that the net realizable value of the by.product is subtracted from the joint cost of the main products. Note: Do not use a negative sign with your answers