Some of the information found on a detailed inventory card for Cranberry Ltd. for May is as follows:

Based on results above, and assuming that the average selling price per unit during May was $7.25, prepare partial income statements up to the gross profit on sales line.

Received Issued No. of Units Balance No. of Units 1,230 2,350 1,600 2,240 1,700 2,430 1,230 2,630 1,780 3,380 1,980 Unit No. of Units Date Cost $2.90 3.00 May 1 (opening balance) 1,230 2 7 10 13 18 20 23 26 28 31 1,120 750 640 3.20 540 320 1,200 1,050 3.30 1,400 850 1,600 3.60 1,400