At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories--finished goods $ 14,000, work in process $ 17,600, and raw materials $ 8,400. May 31 inventories-finished goods $ 9,600, work in process $ 18,000, and raw materials $ 8,000. 2. 3. Debit postings to work in process were direct materials $ 65,100. direct labor $ 51,600, and manufacturing overhead applied $ 40,200. (Assume that overhead applied was equal to overhead incurred.) 4 Sales revenue totaled $ 216,500. Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule $ Prepare a condensed cost of goods manufactured schedule. LOPEZ COMPANY Cost of Goods Manufactured Schedule $ $ >> > $ e Textbook and Media List of Accounts 3 )) Prepare an income statement for May through gross profit. LOPEZ COMPANY (Partial) Income Statement $ > $ $ $ e Textbook and Media Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2020. LOPEZ COMPANY (Partial) Balance sheet $ $ $ e Textbook and Media List of Accounts