StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March Beginning Inventory Ending Inventory Raw materials Work in process Finished goods $29.200 22 000 79.300 $26,100 45.200 68,100 Addrional information tor the month of March folows StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March Raw materials purchases Indirect materials used Direct labor Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue S 40.200 1,700 52 500 35,700 24.700 236 200 Required 1. Based on the above information, prepare a cost of goods manufactured report STORSMART COMPANY Cost of Goods Manufactured Report For the Month of March Raw Materials Inventory Plus: Rawr Material Purchases Direct Materials Used in Production Total Current Manufacturing Costs Total Work in Process Cost of Goods Manufactured 2. Based on the above information, prepare an income statement for the month of March. Income Statement For the Month of March Less: Cost of Goods Sold Cost of Goods Sold Net Income (Loss) from Operations StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: References eBook & Resources Financial Statements Difficulity: 2 Medium Leaming Objective: 02-06 Calculate the cost of goods manufactured and cost goods solo