The following information is available for Crane Company at December 31, 2022: 1. 2. Debit postings to Work in Process Inventory during the year were: 3. Sales totaled $322,400 for the year. CRANECOMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 Work in Process Inventory, January 1 Direct Materials Used Direct Labor Manufacturing Overhead Applied Total Manufacturing Costs Total Cost of Work in Process Inventory Less : Work in Process Inventory, December 31 Cost of Goods Manufactured $93600 62400 78000 Prepare an income statement for the year through gross profit. CRANECOMPANY (Partial) Income Statement For the Year Ended December 31, 2022 Net Income Cost of Goods Sold Finished Goods Inventory, January 1 Cost of Goods Manufactured Cost of Goods Available for Sale Less : Finished Goods Inventory, December 31 Cost of Goods Sold Gross Profit Save for Later $ Attempts: 0 of 1 used Submit