Prepare cost of goods manufactured schedule and partial financial statements. E3.25 (LO 2. 5) At May 31, 2022, the accounts of Hannifan Manufacturing Company show the following: 1. May 1 inventories-Finished Goods $12,600, Work in Process $17,400, and Raw Materials $8,200. 2. May 31 inventories-Finished Goods $15,400, Work in Process $17,900, and Raw Materials $7,100. 3. Debit postings to Work in Process were direct materials $54,200, direct labour $32,000, and manufacturing overhead applied $40,000. 4. Sales totalled $200,000. Instructions a. Prepare a condensed cost of goods manufactured schedule. b. Prepare a partial income statement for May. Include the gross profit section of the income statement. c. Prepare the balance sheet section of the manufacturing inventories at May 31, 2022.