At May 31, 2020, the accounts of Bonita Company show the following.

1. May 1 inventoriesfinished goods $14,800, work in process $17,200, and raw materials $8,500.

2. May 31 inventoriesfinished goods $9,800, work in process $18,600, and raw materials $7,900.

3. Debit postings to work in process were direct materials $63,900, direct labor $52,300, and manufacturing overhead applied $41,100. (Assume that overhead applied was equal to overhead incurred.)

4. Sales revenue totaled $216,800.

Prepare a condensed cost of goods manufactured schedule.

Prepare an income statement for May through gross profit.

Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2020.