StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Beginning Inventory $33,eee 25,000 6e,eee Ending Inventory Raw materials Work in process Finished goods $22,eee 44,e00 58,000 Additional information for the month of March follows StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: S 84,eee Raw materials purchases Indirect materials used Direct labor 10, eee 55,000 Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue 85,eee 58,000 450, eee 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 Direct Materials Used in Production 0 Total Current Manufacturing Costs Total Work in Process Total Current Manufacturing Costs $ 0 Total Work in Process Cost of Goods Manufactured 2 Based on the above information, prepare an income statement for the month of March. STORSMART COMPANY Income Statement For the Month of March Less: Cost of Goods Sold Cost of Goods Sold Net Income (Loss) from Operations