Perez Modems, Inc. acquired a subsidiary named Anywhere, Inc. (AN. Al manufactures a wireless modern that enables users to access the Internet through cell phones. The following trial balance was drawn from the accounts of the subsidiary Cash Raw materials inventory Work in process inventory Finished goods inventory Common stock Retained earnings Totals $289,500 4,180 6,290 7.338 $135, 130 92.179 $227,300 $227,300 The subsidiary completed the following transactions during Year 2 1. Paid $62,850 cash for direct raw materials. 2. Transferred $52,390 of direct raw materials to work in process. 3. Paid production employees $83,830 cash. 4. Applied $55,520 of manufacturing overhead costs to work in process 5. Completed work on products that cost $170,740. 6. Sold products that cost $149,790 for $190,660 cash. Record the recognition of revenue in a row labeled 6a and the cost of goods sold in a row labeled 6b. 7. Paid $20.950 cash for selling and administrative expenses. 8. Actual oyerhead costs paid in cash amounted to $57,590. 9. Closed the Manufacturing Overhead account. The amount of over or underapplied overhead was insignificant immaterial). 10. Made a $5,220 cash distribution to the owners. For Anywhere, Inc., record the events in a financial statements model. The first event is shown as an example. (Enter decreases to account balances with Balance Sheet - Income Statement Revenue - Expense - Net Income Manufacturing Overhead Raw Materials $ 4,180 Work in Process S 6.290. Finished Goods 5 7.330 Equity Common Retained Stock Earnings 135, 130 + $ 92,170 . Beg Ball 209 5001 5 . . . . Total $ 209,500S 4 1801 $ 6.290 + $ 7330 = $ 135 130 + $ 92,170 Reg B > ANYWHERE, INC. Schedule of Cost of Goods Manufactured and Sold For Year Ended December, 31 Year 2 Raw materials available for use Direct raw materials used Total manufacturing costs Total work in process inventory 0 Cost of goods manufactured Cost of goods available for sale 0 Cost of goods sold ANYWHERE, INC. Income Statement For Year Ended December 31, Year 2 ANYWHERE, INC. Schedule of Cost of Goods Manufactured and Sold For Year Ended December, 31 Year 2 Raw materials available for use Direct raw materials used Total manufacturing costs Total work in process inventory 0 Cost of goods manufactured Cost of goods available for sale 0 Cost of goods sold ANYWHERE, INC. Income Statement For Year Ended December 31, Year 2