Thornton Construction Company began operations on January 1, 2019, when it acquired $18,000 cash from the issuance of common stock. During the year, Thornton purchased $3,000 of direct raw materials and used $2,700 of the direct materials. There were 108 hours of direct labor worked at an average rate of $6 per hour paid in cash. The predetermined overhead rate was $3.00 per direct labor hour. The company started construction on three prefabricated buildings. The job cost sheets reflected the following allocations of costs to each building: Direct Labor Hours Job 1 Job 2 Job 3 Direct Materials $ 600 1,100 1,000 The company paid $58 cash for indirect labor costs. Actual overhead cost paid in cash other than indirect labor was $248. Thornton completed Jobs 1 and 2 and sold Job 1 for $1,540 cash. The company incurred $140 of selling and administrative expenses that were paid in cash. Over- or underapplied overhead is closed to Cost of Goods Sold. Required a. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example. b. Reconcile all subsidiary accounts with their respective control accounts. c. Record the closing entry for over- or underapplied manufacturing overhead in the horizontal statements model, assuming that the amount is insignificant. d. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2019. a. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example. b. Reconcile all subsidiary accounts with their respective control accounts. c. Record the closing entry for over- or underapplied manufacturing overhead in the horizontal statements model, assuming that the amount is insignificant. d. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2019. Complete this question by entering your answers in the tabs below. Req A to C Reg D CGM Sched Req D Inc Stmt Reg D Bal Sheet Prepare a schedule of cost of goods manufactured and sold for 2019. THORNTON CONSTRUCTION COMPANY Cost of Goods Manufactured and sold for 2019 Raw materials available Raw materials used Total manufacturing costs Total work in process inventory Cost of goods manufactured Goods available for sale Cost of goods sold Req A to C Req D Inc Stmt > Complete this question by entering your answers in the tabs below. Req A to C Reg D CGM Sched Req D Inc Stmt Reg D Bal Sheet Prepare an income statement for 2019. THORNTON CONSTRUCTION COMPANY Income Statement for 2019 S 0 Complete this question by entering your answers in the tabs below. Req A to C Reg DCGM Sched Reg D IncReq D Bal Stmt Sheet Prepare a balance sheet for 2019. THORNTON CONSTRUCTION COMPANY Balance Sheet for 2019 Assets Total assets Equity Total equity 5 0