Jay Sports Equipment Company, Inc. incurred the following costs during 202. During 20x2, products costing $156,000 were finished, and products costing $171,600 were sold on account for $253,500. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Required: 1. Prepare T-accounts to show the flow of costs through the company's manufacturing accounts during 202. 2. Prepare a partial balance sheet and a partial income statement to reflect the information given above. (Hint: See Exhibit 3-2.)