calculation of depreciation understatement you to add a 2021 net of tax of $3300 in income statement

The following account balances were included in the trial balance of Sheffield Corporation at June 30.2023: During 2023 . Sheffield incurred production salary and wage costs of $708.500, consumed raw materials and other production supplies of 5477,170 , and had an increase in work-in-process and finished goods inventories of $113,900. The Retained Eamings account had a balance of $273,000 at June 30.2023, before clo There are 180,000 common shares outstanding. Sheffeld has elected to adopt IF RS. (Hint: Production payroll and materials costs reduced by the increase in endi work-in-process and finished goods inventories = the cost of goods sold.) (a) Your answer is partiallycorrect: Prepare an income statement for the year ended June 30,2023, using the multiplestep format and showing expenses by function. (ust Snliling Experser before Administrative Expenses, Round per share answer to 2 decimal places, es. 52.74 )