Question 4 View Policies Show Attempt History Current Attempt in Progress The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020 Raw Materials Inventory 7/1/19 $48,900 Factory Insurance $5,100 Raw Materials Inventory 6/30/20 Factory Machinery Depreciation 46,900 18,000 Finished Goods Inventory 7/1/19 97,700 Factory Utilities 30,000 Finished Goods Inventory 6/30/20 21,600 Office Utilities Expense 9,350 Work in Process Inventory 7/1/19 Sales Revenue 25,200 558,900 Work in Process Inventory 6/30/20 23,700 Sales Discounts 5,000 Direct Labor 142,050 Plant Manager's Salary 65,200 Indirect Labor 25,360 Factory Property Taxes Factory Repairs 9,710 Accounts Receivable 35,500 2,200 Raw Materials Purchases 96,700 Cash 40,700 Prepare an income statement through gross profit. CLARKSON COMPANY | (Partial) Income Statement For the Year Ended June 30, 2020 Work in Process Inventory, July 1, 2019 $ Less: $ eTextbook and Media eTextbook Video List of Accounts 41