Madison Company has the following information available: Cost Factory Utilities Factory Maintenance Production Amount Cost Amount Depreciation 3,000 4,000 Factory Equipment 1,100 Indirect Labor 15,550 Supervisor's Salary 48,990 Direct Labor Wages 50,000 Direct Material Sales Commissions 14,000 120,000 Purchases President's Salary 98,000 Depreciation-Office 2,000 Equipment Office Utilities 1,500 Factory Insurance 3,800 Accounts 12,500 Cash 62,300 Receivable Office Salaries 15,650 Factory Rent 17,775 Other information includes: Inventory Raw Materials Work In Process Finished Goods Beginning Ending 36,800 62,750 52,500 86,210 70,250 89,680 Instructions: a. Prepare a Cost of Goods Manufactured Schedule b. Prepare an Income Statement (Net Sales - $420,000) c. Prepare a current assets section of the balance sheet Some account se available until you