ALG3073 Saved Help Sav 14 Part 4 of 4 12 points Required information (The following information applies to the questions displayed below.) Bergamo Bay's computer system generated the following trial balance on December 31, 2019. The company's manager knows something is wrong with the trial balance because it does not show any balance for Work In Process Inventory but does show a balance for the Factory Overhead account. In addition, the accrued factory payroll (Factory Wages Payable) has not been recorded Debit Credit Cash $ 69,000 Accounts receivable 30.000 Raw materiale inventory 24,000 Work in process inventory . Finished goods inventory 9,000 Prepaid rent 3,000 Aceounts payable $ 11,800 Notes payable 14,800 Common stock 30.000 Retained earnings 94,000 Sales 160,400 Coat of goods old 114,900 Factory overhead 25,000 Operating expenses 3,000 Totals $319,000 $219.000 Print Waferences After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date. Materials requisition 21-1010 Materials requisition 21-30111 Materials requisition 21-3012 Labor tine ticket 6052 Labor time ticket 6053 Labor time ticket 6054 $ 4,100 direct materiale to Job 402 57.600 direct materials to Job 404 $ 2.360 indirect materials 9.4.000 direct labor to Job 402 516,000 direct labor to Job 404 $5,000 indirect labor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 100% of direct labor cost. 14 4. Prepare an income statement for 2019 and a balance sheet as of December 31, 2019. Answer is not complete. Part 4 of 4 Complete this question by entering your answers in the tabs below. 12 points Income Statement Balance Sheet Prepare an income statement for 2019. BERGAMO BAY COMPANY Income Statement For Year Ended December 31, 2019 Sales $ 168,400 Cost of goods sold 114,000 Gross profit 54,400 Operating expenses 37,000 + Net income $ 17.400 Balance Sheet > TH 14 Required Information Part 4 of 4 BERGAMO BAY COMPANY Balance Sheet December 31, 2019 Assets Cash Accounts receivable 12 points 69,000 38,000 Inventories S OOO 38,000 0 9,000 47,000 $ 154,000 Raw materials inventory Work in process inventory Finished goods inventory Total assets Liabilities and equity Notes payable Accounts payable Factory wages payable Total liabilities Retained earnings Common stock $ 14,800 11,800 26,600 94,000 30,000 Total stockholders' equity Total liabilities and equity 124,000 150,600 $