please help me ACC 202 CANGAGE

ebook Show Me How Ofloo385 Financial statements of a manufacturing them The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: Purchased $284,000 of materials. b. Used $204,480 of direct materials in production c Incurred $511,200 of direct labor wages d. Incurred 204,500 of factory overhead. e Transferred $863,400 of work in process to finished goods f. Sold goods for $1,363,200. 9. Sold goods with a cost of $766,800, h. Incurred $244,200 of selling expense. 1. Incurred 5142,000 of administrative expense. This information has been collected in the Microsoft Excel Onine file. Open the spreadsheet perform the required analysis, and input your answers in the questions below. X Open spreadsheet Using the information given, complete the following: 2. Prepare the January income statement for Sorensen Manufacturing Company. Round your answers to the nearest dolla. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 X X Revenues Cost of goods sold Gross profit Operating expenses Selling expenses X Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Round your answers to the nearest dolan. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 Revenues Cost of goods sold X Gross profit Operating expenses Selling expenses X Administrative expenses Total operating expenses Net income X b. Determine the inventory balances at the end of the first month of operations. Round your answers to the nearest dollar. Sorensen Manufacturing Company Inventory Balances For the Month Ended January 31 Inventory balances on January 31: Materials X X Work in process Finished goods X Feedback