At May 31, 2022, the accounts of Blossom Company show the following. 1. 2. May 1 inventories-finished goods $10,080,work in process $11,760, and raw materials $6,560. May 31 inventories-finished goods $7,600, work in process $12,720, and raw materials $5,680. Debit postings to work in process were direct materials $49.920, direct labor $40,000, and manufacturing overhead applied $32,000. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $172,000. 3. 4. Prepare a condensed cost of goods manufactured schedule for May 2022. BLOSSOM COMPANY Cost of Goods Manufactured Schedule $ > $ Prepare an income statement for May 2022 through gross profit. BLOSSOM COMPANY (Partial) Income Statement $ > > (c) Prepare the balance sheet section of the manufacturing inventories at May 31, 2022. BLOSSOMCOMPANY (Partial) Balance sheet $ $