At May 31, 2020, the accounts of Concord Company show the following. 1. May 1 inventories-finished goods $13,800, work in process $17,200, and raw materials $9,100. 2. May 31 inventories-finished goods $9,800, work in process $18,600, and raw materials $8,000. 3. Debit postings to work in process were direct materials $63,600, direct labor $51,800, and manufacturing overhead applied $43,100. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,900. Prepare a condensed cost of goods manufactured schedule. CONCORD COMPANY Cost of Goods Manufactured Schedule $ $ .. $ Prepare an income statement for May through gross profit. CONCORD COMPANY (Partial) Income Statement $ $ $ Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2020. CONCORD COMPANY (Partial) Balance sheet $ $