At May 31, 2022. the accounts of Pharoah Company show the following 2 3. May 1 inventaries-finished goods $14,080, work in process $16.400, and raw materials $9,120. May 31 inventories-finished goods $10.640 work in process $17.940, and raw materials $7.920. Debit postings to work in process were direct materials $69.920, direct labor $56,000, and manufacturing overhead applied 544,800. (Assume that overhead applied was equal to overhead incurred.) Sales revenue totaled $240,800. 4. (a) Prepare a condensed cost of goods manufactured schedule for May 2022. PHAROAH COMPANY Cost of Goods Manufactured Schedule $ > > > $ Prepare an income statement for May 2022 through gross profit. PHAROAH COMPANY (Partial) Income Statement $ >> V > Prepare the balance sheet section of the manufacturing Inventories at May 31, 2022 PHAROAHCOMPANY (Partial) Balance sheet $