The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 Raw Materials Inventory 6/30/20 Finished Goods Inventory 7/1/19 Finished Goods Inventory 6/30/20 Work in Process Inventory 7/1/19 Work in Process Inventory 6/30/20 Direct Labor Indirect Labor Accounts Receivable $51,600 45,500 99,100 22,300 29,600 28,100 145,750 26,660 35,400 Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Plant Manager's Salary Factory Property Taxes Factory Repairs Raw Materials Purchases Cash $5,200 17.900 31,100 9,450 557.100 5,000 65,300 9.710 2.200 99.000 39.400 Part 1 Your answer is correct. Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.) CLARKSON COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020 Work in Process Inventory, July 1, 2019 Direct Materials Raw Materials Inventory, July 1, 2019 51600 Raw Materials Purchases 99000 Total Raw Materials Available for Use 150600 Less : Raw Materials Inventory, June 30, 2020 45500 Direct Materials Used 105 100 - Manufacturing Overhead Plant Manager's Salary 65300 Factory Utilities 31100 Indirect Labor 26660 Factory Insurance 5200 Factory Repairs 2200 Factory Machinery Depreciation 17900 Factory Property Taxes 9710 Total Manufacturing Overhead 158070 Total Manufacturing Costs Total Cost of Work in Process Inventory Less: Work in Process Inventory, June 30, 2020 Cost of Goods Manufactured Part 2 Prepare an income statement through gross profit. CLARKSON COMPANY (Partial) Income Statement > estion 11 of 11 1.67/5 III v Part 3 Prepare the current assets section of the balance sheet at June 30, 2020. (List Current Assets in order of Nquidity) CLARKSON COMPANY (Partial) Balance Sheet $