Reimel Furniture Company, Inc., incurred the following costs during 20x2. Raw material used Direct labor $172,000 320,000 During 20x2, manufacturing overhead of $160,000 was applied to production. Products costing $122,000 were finished, and products costing $132,000 were sold on account for $197,000. There were no purchases of raw material during the year. The beginning balances in the firm's inventory accounts are as follows: Raw material Work in process Finished goods $227,000 16,000 28,000 2. Prepare a partial balance sheet and a partial income statement to reflect the information given above. Complete this question by entering your answers in the tabs below. Balance Sheet Income Stmt Prepare a partial balance sheet. REIMEL FURNITURE COMPANY, INC. Partial Balance Sheet As of December 31, 20x2 Prev of 7 HII Next