The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2014 Raw Materials Inventory 7/1/13 Raw Materials Inventory 6/30/14 Finished Goods Inventory 7/1/13 Finished Goods Inventory 6/30/14 Work in Process Inventory 7/1/13 Work in Process Inventory 6/30/14 Direct Labor Indirect Labor Accounts Receivable $48,000 39,600 96,000 75,900 19,800 18,600 139,250 24,460 27,000 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts $4,600 16,000 27,600 8,650 534,000 4,200 58,000 9.600 1,400 96,400 32,000 Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash