At May 31,2020, the accounts of Lopez Compary show the following. 1. May 1 invantaries-finishad soods $12,700, work in process $15,100, and raw materials $8,600. 2. May 31 imentories-finished soods $9,700, workin process $17,900, and raw materials $7,500. 3. Debit postines to work in process ware direct mataria s $62,600, diract labor $50,200, and manufacturinz overhead applied $41,900. (Assume that ovarhead applied was equal to overhead incurrad.) 4. Salas ravenue totaled $216,600. Pronaro a mn-teneed rnet nf ennrle manu ifartu Irat erhertule Prepare an income statament for May through gross profit. LOPBZ COMPANY (Partial) Income Statement s eTextbook and Medla Indicate the balance sheet presentation of the manufacturinz imventories at May 31,2020