Question 27 The following information is available for Marks Company at December 31, 2019: 1. Inventory balance Finished Goods Work in Process Raw Materials Beginning of Year $14,000 6,000 10,300 End of Year $10,000 12,000 6,500 2. Debit postings to Work in Process Inventory during the year were: Direct materials $90,000 Direct labor 60,000 Manufacturing overhead applied 75,000 3. Sales totaled $310,000 for the year. Prepare a condensed cost of goods manufactured schedule. MARKS COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2019 Prepare an income statement for the year through gross profit. MARKS COMPANY (Partial) Income Statement For the Year Ended December 31, 2019 Click if you would like to Show Work for this question: Open Show Work