The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020.

Instructions
a. Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
b. Prepare an income statement through gross profi t.
c. Prepare the current assets section of the balance sheet at June 30, 2020.

 

$ 4,600 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Raw Materials Inventory 7/1/19 $ 48,000 16,000 27,600 8,650 534,000 4,200 58,000 Raw Materials Inventory 6/30/20 Finished Goods 39,600 Inventory 7/1/19 Finished Goods 96,000 Sales Revenue Sales Discounts Inventory 6/30/20 75,900 Plant Manager's Salary Factory Property Taxes Factory Repairs Work in Process 9,600 Inventory 7/1/19 Work in Process 19,800 1,400 Raw Materials Purchases 96,400 Inventory 6/30/20 18,600 Cash 32,000 Direct Labor 139,250 Indirect Labor 24,460 Accounts Receivable 27,000