Bergamo Bay's computer system generated the following trial balance on December 31, 2019. The company's manager knows something is wrong with the trial balance because it does not show any balance for Work in Process Inventory but does show a balance for the Factory Overhead account. In addition, the accrued factory payroll (Factory Wages Payable) has not been recorded. Credit Debit $ 66,000 35,000 22,500 0 12,000 4,000 Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings Sales Cost of goods sold Factory overhead Operating expenses Totals $ 10,100 13,100 40,000 88,000 174,300 105,000 26,000 55,000 $325,500 $325,500 After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date. Materials requisition 21-3010: Materials requisition 21-3011: Materials requisition 21-3012: Labor time ticket 6052: Labor time ticket 6053 Labor time ticket 60541 $ 4,200 direct materials to Job 402 $ 7,800 direct materiale to Job 404 $ 2,400 indirect materials $ 6,000 direct labor to Job 402 $14,000 direct labor to Job 404 $ 5,000 indirect labor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 100% of direct labor cost. Income Statement Balance Sheet Prepare an income statement for 2019. BERGAMO BAY COMPANY Income Statement For Year Ended December 31, 2019 Balance Sheet Prepare a balance sheet as of December 31, 2019. BERGAMO BAY COMPANY Balance Sheet December 31, 2019 Assets Inventories Total assets Liabilities and equity Total liabilities Total stockholders' equity Total liabilities and equity Income