Prepare an income statement through gross profit for June 2020 assuming sales revenue is $87,510. SHERIDAN CORPORATION Income Statement (Partial) For the Year Ended June 30, 2020 $ $ $ Sheridan Corporation has the following cost records for June 2020. Indirect factory labor $5,000 Factory utilities $430 Direct materials used 22,910 Depreciation, factory equipment 1,790 Work in process, 6/1/20 3,690 Direct labor 41,860 Work in process, 6/30/20 4,170 Maintenance, factory equipment 1,960 Finished goods, 6/1/20 5,350 Indirect materials 2,540 Finished goods, 6/30/20 8,480 Factory manager's salary 3,330