The following events took place for Rushmore Bilang Inc. during February, the first month of operations as a producer of road bikes Purchased $340,000 of materials Used $307,800 of direct materials in production Incurred $88,500 of direct labor wages Applied factory overhead at a rate of 34% of direct labor cost Transferred $404,300 at work in process to finished goods Sold goods with a cost of $384,700 Revenues earned by selling bikes, $636,500. Incurred $129,400 of selling expenses Incurred $62,900 of administrative expenses This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers Open spreadsheet a. Prepare the income statement for Rushmore Biking for the month ending February 26. Round your answers to the nearest dollar Rushmore Biking Inc. Income Statement For the Month Ended February 28 Selling and Administrative Expenses Total Selling and Administrative Expenses b. Determine the inventory balances on February 28, the end of the first month of operations. Round your swers to the cearest dotter. Check My Workmore Check My Works remaining All work saved LON A ... ctv (a w MacBook Pro c G Search or type URL ) %23 3 $ 4 % 5 & 7 6 8 9 che Hry The GORENDEN |Super (Anilaitiani 12:00 ZABAWKSHEETA LAD LEXMAGO LEKTROLLO EXETADO ZEX ESGEGELADO CHAT EX ALDO C 7 5 7 - 8 1 O 5 6 9 Q E R T Y U 1 O P A S D F G H j x X N V B N M 16 x command