StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Beginning Ending Inventory Inventory Raw materials $29,700 $26,700 Work in process 21,300 46,500 Finished goods 79,900 68,600 Additional information for the month of March follows: Raw materials purchases Indirect materials used Direct labor Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue $ 41,900 1,300 62,000 36,200 23,300 236,900 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. Cost of Goods Manufactured Report For the Month of March Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured $ 0 $ 0 Less: Cost of Goods Sold Cost of Goods Sold Income Statement For the Month of March Net Income (Loss) from Operations