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The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017. Raw Materials Inventory 7/1/16 $52,700 Factory

The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017.

Raw Materials Inventory 7/1/16 $52,700 Factory Insurance $5,700
Raw Materials Inventory 6/30/17 44,600 Factory Machinery Depreciation 16,400
Finished Goods Inventory 7/1/16 98,300 Factory Utilities 30,600
Finished Goods Inventory 6/30/17 22,400 Office Utilities Expense 9,050
Work in Process Inventory 7/1/16 22,300 Sales Revenue 562,100
Work in Process Inventory 6/30/17 29,200 Sales Discounts 5,300
Direct Labor 148,650 Plant Managers Salary 63,100
Indirect Labor 24,660 Factory Property Taxes 9,910
Accounts Receivable 28,900 Factory Repairs 2,200
Raw Materials Purchases 99,200
Cash 38,600

Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)

Prepare an income statement through gross profit.

Prepare the current assets section of the balance sheet at June 30, 2017. (List Current Assets in order of liquidity.)

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