Royce is greatly disturbed by these reported results. The company had been reporting profit in prior quarters. Consequently, he and Joyce agreed to retain you as a consultant and have asked you to review the income statement and recommend any needed corrections and adjustments. You talked with the administrative staff and obtained the following additional data: A. Inventory Data April 1 June 30 Raw Material Work-in-Progress Finished Goods $48,000 72,000 90,000 $153,000 84,000 144,000 B. Fifty percent (50%) of the utility expense and sixty-six and two-thirds percent (66 2/3%) of the insurance expense are to be applied to the factory. The remaining amounts are to be considered selling and administrative expenses. 1. A detailed schedule of cost of goods sold for the quarter ended June 30, 2020. 2. A corrected multi-step income statement for the quarter ended June 30, 2020. (See format in Exhibit #1)