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 Raw Materials Inventory 6/30/17 Finished Goods Inventory 7/1/16 Finished Goods Inventory 6/30/17 Work in Process Inventory 7/1/16 Work in Process Inventory 6/30/17 Direct Labor Indirect Labor Accounts Receivable $51,500 47,900 98,100 27,700 25,200 21,000 145,850 25,260 35,200 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 $5,400 17,200 29,000 9,050 561,600 4,900 61,200 9,710 1,700 98,500 37,200 CLARKSON COMPANY (Partial) Balance Sheet