The following data were taken from the records of Crane 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 $48,100 39,700 9 6,100 19.900 19.900 19.900 139,350 24,560 27.100 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 $4,700 16.100 28,700 8,550 555,000 4,300 61,100 9.610 1,500 96,500 32.100 Prepare an income statement through gross profit. CRANE COMPANY (Partial) Income Statement June 30, 2020 Sales Revenue Less :: Sales Discounts Net Sales Cost of Goods Sold Finished Goods Inventory, July 1, 2019 Cost of Goods Manufactured Cost of Goods Available for Sale Less t Finished Goods Inventory, June 30, 2020 Cost of Goods Sold | Gross Profit e Textbook and Media