The Zoe Corporation has the following information for the month of March. Prepare a (a) schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c) prepare only the inventory section of the balance sheet. Purchases $88,000 Materials inventory, March 1 7,000 Materials inventory, March 31 9,000 Direct labor 32,000 Factory overhead 36,000 Work in process, March 1 24,000 Work in process, March 31 19,600 Finished goods inventory, March 1 24,000 Finished goods inventory, March 31 30,000 Sales 278,000 Sales and administrative expenses 86,000