At May 31, 2022, the accounts of Blossom Company show the following. 1. May 1 inventoriesfinished goods $12,830, work in process $14,950, and raw materials $8,320. 2. May 31 inventoriesfinished goods $9,690, work in process $16,240, and raw materials $7,220. 3. Debit postings to work in process were direct materials $63,670, direct labor $51,000, and manufacturing overhead applied $40,800. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $219,300.

At May 31, 2022, the accounts of Blossom Company show the following. 1. May 1 inventories-finished goods $12,830, work in process $14,950, and raw materials $8,320. 2. May 31 inventories-finished goods $9,690, work in process $16,240, and raw materials $7,220. 3. Debit postings to work in process were direct materials $63,670, direct labor $51,000, and manufacturing overhead applied $40,800. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $219,300. Prepare an income statement for May 2022 through gross profit. BLOSSOM COMPANY (Partial) Income Statement For the Month Ended May 31, 2022 A Sales Revenue 219300 Cost of Goods Sold Finished Goods, May 1 12830 i Cost of Goods Manufactured Cost of Goods Available for Sale Less : Finished Goods, May 31 9690 i Cost of Goods Sold Gross Profit Prepare the balance sheet section of the manufacturing inventories at May 31, 2022. BLOSSOMCOMPANY (Partial) Balance sheet May 31, 2022 Current Assets Inventories Raw Materials Inventory $ NU Finished Goods Inventory Total Inventories