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 $28,600 21,700 79,800 Ending Inventory $26,100 46,900 68,500 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 $ 41,400 1,400 63,400 36,900 23,600 236,600 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 Direct Materials Used in Production Total Current Manufacturing Costs 0 Total Work in Process $ 0 Cost of Goods Manufactured STORSMART COMPANY Income Statement For the Month of March Less: Cost of Goods Sold Cost of Goods Sold Net Income (Loss) from Operations