At May 31, 2020, the accounts of Oriole Company show the following. 1. May 1 inventories-finished goods $12,700, work in process $15,100, and raw materials $8,600. 2. May 31 inventories-finished goods $9,700, work in process $17,900, and raw materials $7,500. 3. Debit postings to work in process were direct materials $62,800, direct labor $50,200, and manufacturing overhead applied $41,900. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,600. Prepare an income statement for May through gross profit. ORIOLE COMPANY (Partial) Income Statement > $ $