P1-4A Prepare a cost of goods manufactured schedule, a partial income statement, and a partial balance sheet
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017.
	Raw Materials Inventory,7/1/16	$48,000		Factory Machinery Depreciation		$16,000
	Raw Materials Inventory, 6/30/17	39,600		Factory Utilities		27,600
	Finished Goods Inventory, 7/1/16	96,000		Office Utilities Expense		8,650
	Finished Goods Inventory, 6/30/17	75,900		Sales Revenue		534,000
	Work in Process Inventory, 7/1/16	19,800		Sales Discounts		4,200
	Work in Process Inventory, 6/30/17	18,600		Plant Manager's Salary		58,000
	Direct Labor	139,250		Factory Property Taxes		9,600
	Indirect Labor	24,460		Factory Repairs		1,400
	Accounts Receivable	27,000		Raw Materials Purchases		96,400
	Factory Insurance	4,600		Cash		32,000
Instructions
(a)	Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
(b)	Prepare an income statement through gross profit.
(c)	Prepare the current assets section of the balance sheet at June 30, 2017.
NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .

After you have completed P1-4A, consider the additional question.
1.	Assume that in preparing the cost of goods manufactured schedule, several errors were made. Raw materials purchases,
	sales revenue and factory depreciation should have been $106,400, $584,000 and $18,000 respectively. Show the impact
	of these changes on the cost of goods manufactured schedule, income statement and balance sheet.