StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Beginning Inventory Ending Inventory Rav materials Work in process $ 29,700 21,700 $ 25,100 46,400 Finished goods 79,500 70,000 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 Required: $ 40,900 1,800 62,600 36,800 23,700 236,800 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the above information, prepare a cost of goods manufactured report. StorSmart Company 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 Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured $ 59 GA 0 4 0 Required 1 Required 2 Based on the above information, prepare an income statement for the month of March. Less: Cost of Goods Sold StorSmart Company Income Statement For the Month of March Cost of Goods Sold Net Income (Loss) from Operations