Required information The following information applies to the questions displayed below.] Bergamo Bay's computer system generated the following trial balance on December 31, 2017. The company's manager knows something is wrong with the trial balance because it does not show any balance for Work in Process Inventory but does show a balance for the Factory Overhead account. In addition, the accrued factory payroll (Factory Payroll Payable) has not been recorded Debit Credit $ 63,000 38,000 24,000 Cash Accounts receivable Raw materials inventory Work in process inventory Finished goods inventory Prepaid rent Accounts payable Notes payable Common stock Retained earnings Sales Cost of goods sold Factory overhead Operating expenses Totals 9,000 3,000 9,700 12,700 30,000 91,000 166, 600 111,000 24,000 38,000 $ 310,000 310,000 After examining various files, the manager identifies the following six source documents that need to be processed to bring the accounting records up to date Materials requisition 21-3010: S 4, 000 direct materials to Job 402 S 7,500 direct materials to Job 404 $ 2, 300 indirect materials aterials requisition 21-3011: Materials requisition 21-3012: Labor time ticket 6052: Labor time ticket 6053: Labor time ticket 6054: $ 7,000 direct labor to Job 402 S 10,000 direct labor to Job 404 $ 2,000 indirect labor Jobs 402 and 404 are the only units in process at year-end. The predetermined overhead rate is 100% of direct labor cost. 4. Prepare an income statement for 2017 and a balance sheet as of December 31, 2017. Complete this question by entering your answers in the tabs below Income Statement Balance Sheet Prepare an income statement for 2017. BERGAMO BAY COMPANY Income Statement For Year Ended December 31, 2017 Income StatementBalance Shee Prepare a balance sheet as of December 31, 2017 BERGAMO BAY COMPANY Balance Sheet December 31, 2017 Assets Inventories Total assets Liabilities and equity Total liabilities Total stockholders' equity Total liabilities and equity Income Statement Balance Sheet