StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Raw materials Work in process Finished goods Beginning Inventory $29,800 21,800 78,5ee Ending Inventory $25,500 46,500 68,600 Additional information for the month of March follows: Raw materials purchases Andirect materials used Direct labor Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue $ 40,00 1,100 63,00 36,5 24,20 236,100 Required: 1. Based on the above information, prepare a cost of goods manufactured report 2. Based on the above information, prepare an income statement for the month of March Required 1 Required 2 Based on the above information, prepare a cost of goods manufactured report STORSMART COMPANY Cost of Goods Manufactured Report For the Month of March (Beginning Raw Materials Inventory Plus. Raw Material Purchases Less. Indirect Material Used Less Ending Raw Materials inventory Direct Materials used in Production Direct Labor Manufacturing Overhead Applied $ 0 Total Current Manufacturing Costs Plus: Beginning Work In Process inventory Total Work in Process S Less Ending Work Process Inventory Cost of Goods Manufactured Required > NE Required 1 Required 2 Based on the above information, prepare an income statement for the month of March. STOR SMART COMPANY Income Statement For the Month of March Sales Revenue Less: Cost of Goods Sold Beginning Finished Goods Inventory Plus: Cost of Goods Manufactured Less Ending Finished Goods Inventory Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Net Income (Loss) from Operations