The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020.

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Problem 19-04A a-c (Video) The following data were taken from the records of Waterway Company for the fiscal year ended June 30, 2020. Raw Materials Inventory 7/1/19 $51,100 Factory Insurance $4,700 Raw Materials Inventory 6/30/20 46,000 Factory Machinery Depreciation 19,000 Finished Goods Inventory 7/1/19 98,200 Factory Utilities 29,100 Finished Goods Inventory 6/30/20 26,100 Office Utilities Expense 9,350 Work in Process Inventory 7/1/19 26,800 Sales Revenue 564,000 Work in Process Inventory 6/30/20 22,300 Sales Discounts 4,700 Direct Labor 147,750 Plant Manager's Salary 65,600 Indirect Labor 26,560 Factory Property Taxes 9,810 Accounts Receivable 27,100 Factory Repairs 1,600 Raw Materials Purchases 97,500 Cash 35,600 Your answer is partially correct. Try again. Prepare an income statement through gross profit. WATERWAY COMPANY (Partial) Income Statement For the Year Ended June 30, 2020 Sales Revenue 564000 Less Sales Discounts 4700 Net Sales 559300 Cost of Goods Sold Finished Goods Inventory, July 1, 2019 4112201 Cost of Goods Manufactured 98200 Cost of Goods Available for Sale 509420 Less Finished Goods Inventory, June 30, 2020 26100 Cost of Goods Sold 483320 Gross Profit 75980 Your answer is partially correct. Try again. Prepare the current assets section of the balance sheet at June 30, 2020. (List Current Assets in order of liquidity.) WATERWAY COMPANY (Partial) Balance Sheet X For the Month Ended June 30, 2020 Current Assets X Cash Accounts Receivable Inventories Finished Goods Inventory Il 000 II Work in Process Inventory Raw Materials Inventory Total Current Assets