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Can someone help me with the last 4? Financial Statements of a Manufacturing Firm The following events took place for Chi-Lite Inc. during June, the

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Financial Statements of a Manufacturing Firm The following events took place for Chi-Lite Inc. during June, the first month of operations as a producer of road bikes: Purchased $317,600 of materials. Used $273,100 of direct materials in production. Incurred $236,000 of direct labor wages. Applied factory overhead at a rate of 75% of direct labor cost. Transferred $658,700 of work in process to finished goods. Sold goods with acost of $625,700. Sold goods for $1,120,000 Incurred $269,100 of selling expenses. Incurred $100,100 of administrative expenses a. Prepare the June income statement for Chi-Lite. Assume that Chi-Lite uses the perpetual inventory method Chi-Lite Inc. Income Statement For the Month Ended June 30 Revenues Cost of Goods Sold Gross Profit 1,120,000 625,700 494,300 Selling and Administrative Expenses: Selling Expenses Administrative Expenses 269,100 100,100 Total Selling and Administrative Expenses 169,000 X Income from Operations

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