At May 31, 2017, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $14,800, work in process $17,600, and raw materials $8,600. 2, May 31 inventories-finished goods $9,600, work in process $17,000, and raw materials $8,000. 3. Debit postings to work in process were direct materials $64,300, direct labor $51,400, and manufacturing overhead applied $42,100 4. Sales revenue totaled $217,000. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule Prepare an income statement for May through gross profit