P1-5 Statement of cost of goods manufactured; income statement; balance sheet The adjusted trial balance for Appleton Appliances, Ltd. on June 30, the end of its first month of operation, is as follows: Appleton Appliances, Ltd. Trial Balance June 30, 2016 $ 3,000 2,200 9,800 Cash ... $ 15,500 Accounts Receivable. 12,600 Finished Goods..... 19,300 Work in Process Materials.... 4,700 Building...... 400,000 Accumulated Depreciation-Building .. Machinery and Equipment..... 66,000 Accumulated Depreciation-Mach. and Equip. Accounts Payable ... Payroll ........ Capital Stock Sales...... Cost of Goods Sold . 31,460 Factory Overhead Selling and Administrative Expenses. 12,500 $562,060 The general ledger reveals the following additional data: a. There were no beginning inventories. b. Materials purchases during the period were $23,000. Direct labor cost was $18,500. d. Factory overhead costs were as follows: 483,260 63,800 $562,060 C. Indirect materials... Indirect labor .... Depreciation-building ..., Depreciation-machinery and equipment Utilities $ 1,400 6,010 3,000 2,200 2,750 $15 360 Required: 1. Prepare a statement of cost of goods manufactured for June 2. Prepare an income statement for June. (Hint Check to be sure that your figure for Cost of Goods Sold equals the amount given in the trial balance.) 3. Prepare a balance sheet as of June 30. (Hint: Do not forget Retained Earnings.)