Problem 19-4bc

The following data were taken from the records of Blumbey Manufacturing Company for the fiscal year ended June 30, 2012.

Raw Materials Inventory 7/1/11		$48,030		Factory Insurance		$5,060
Raw Materials Inventory 6/30/12		39,690		Factory Machinery Depreciation		15,770
Finished Goods Inventory 7/1/11		95,940		Factory Utilities		27,270
Finished Goods Inventory 6/30/12		98,830		Office Utilities Expense		8,770
Work in Process Inventory 7/1/11		19,380		Sales		556,490
Work in Process Inventory 6/30/12		18,870		Sales Discounts		4,150
Direct Labor		149,000		Plant Managers Salary		29,160
Indirect Labor		24,160		Factory Property Taxes		9,750
Accounts Receivable		26,770		Factory Repairs		1,820
				Raw Materials Purchases		96,370
				Cash		31,820

(b) and (c) Prepare an income statement through gross profit. BLUMBEY MANUFACTURING COMPANY (Partial) Income Statement For the Year Ended June 30, 2012 A e page Prepare the current assets section of the balance sheet at June 30, 2012. (List current assets in order of liquidity) BLUMBEY MANUFACTURING COMPANY (Partial) Balance Sheet June 30, 2012 Click if you would like to Show Work for this question: Open Show Work