Part One: In 2018, Patricia Conway opened Patricia's Posies, a small retail shop selling floral arrangements. (Click the icon to view the records.) Read the requirement (Part One). Part Two: Patricia's Posies was so successful that Patricia decided to manufacture her own brand of floral supplies: Floral Mart Manufacturing. (Click the icon to view the records.) Read the requirements (Part Two). Part Three: Show the ending inventories that would appear on these balance sheets: Data table - For the Year Ended December 31, 2019 - Beginning inventory Plus: Purchases Cost of goods available for sale Less: Ending inventory Cost of goods sold Now prepare an income statement for Patricia's Posies, a merchandiser, for the year ended Patricia's Posies Income Statement For the Year Ended December 31, 2019 $ 12,700 Data table 39,000 51,700 10,000 $ 41,700 At the end of December 2020, her accounting records show the following: Utilities for plant Delivery expense $ 4.300 . $ 3.500 On December 31, 2019, her accounting records show the following: Sales salaries expense $ 4,400 Plant janitorial services $ 1,050 Sales revenue Utilities for shop $ 55,000 $ 1,200 Inventory on December 31, 2019. $ 10,000 Inventory on January 1, 2019 $ 12,700 Work in process inventory, December 31, 2020 Finished goods inventory, December 31, 2019 Finished goods Inventory, December 31, 2020 Sales revenue $ 1,500 . $ 0 $ 4,500 $ 100,000 Rent for shop $ 4,600 Customer service hotline expense $ 1,900 Sales commisions $ 4,600 Direct labor $ 29,000 Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses Purchases of merchandise ..... $ 39,000 41,700 Direct material purchases $ 37,000 Rent on manufacturing plant $ 9.600 Print Done Raw materials inventory, December 31, 2019 Raw materials inventory, December 31, 2020 $ 17.000 $ 6,500 Utilities expense Rent expense Sales commissions expense Operating Income Work in process inventory, December 31, 2019. $ 0 More info Help me solve this Video Get more help 1. Patricia's Posies at December 31, 2019 2. Floral Mart Manufacturing at December 31, 2020