Raw Materials Factory Insurance Inventory 7/1/19 Raw Materials $ 48,000 Factory Machinery P19.4A (LO 3) The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Prepare a cost of goods manufactured schedule, a partial income statement, and a partial balance sheet. Excel $ 4,600 Depreciation 16,000 Inventory 6/30/20 39,600 Factory Utilities 27,600 Finished Goods Office Utilities Expense 8,650 te head- Inventory 7/1/19 96,000 Sales Revenue 534,000 Finished Goods Sales Discounts 4,200 Inventory 6/30/20 75,900 Plant Manager's Salary 58,000 Work in Process Factory Property Taxes 9,600 er 2020. Inventory 7/1/19 19,800 Factory Repairs 1,400 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable Instructions Of audio lines are rent on cost $5 = $9,500 factory a. Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) b. Prepare an income statement through gross profit. c. Prepare the current assets section of the balance sheet at June 30, 2020. 18,600 Raw Materials Purchases Cash 96,400 32,000 139,250 24,460 27,000 a. CGM b. Gross profit $386,910 $122,790 c. Current assets $193,100