Waterways Continuing Problem 15 Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate farms, parks, commercial projects, and private lawns. It has a centrally located factory in a U.S. city that manufactures the products it markets to retail outlets across the nation. It also maintains a division that performs installation and warranty servicing in six metropolitan areas. The mission of Waterways is to manufacture quality parts that can be used for effective irrigation projects that also conserve water. By that effort, the company hopes to satisfy its customers, perform rapid and responsible service, and serve the community and the employees who represent them in each community. The company has been growing rapidly, so management is considering new ideas to help the company continue its growth and maintain the high quality of its products. Waterways was founded by Will Winkman, who is the company president and chief executive officer (CEO). Working with him from the companys inception is Wills brother, Ben, whose sprinkler designs and ideas about the installation of proper systems have been a major basis of the companys success. Ben is the vice president who oversees all aspects of design and production in the company. The factory itself is managed by Todd Senter who hires his line managers to supervise the factory employees. The factory makes all of the parts for the irrigation systems. The purchasing department is managed by Helen Hines. The installation and training division is overseen by vice president Henry Writer, who supervises the managers of the six local installation operations. Each of these local managers hires his or her own local service people. These service employees are trained by the home office under Henry Writers direction because of the uniqueness of the companys products. There is a small human resources department under the direction of Sally Fenton, a vice president who handles the employee paperwork, though hiring is actually performed by the separate departments. Teresa Totter is the vice president who heads the sales and marketing area; she oversees 10 well-trained salespeople. The accounting and finance division of the company is run by Ann Headman, who is the chief financial officer (CFO) and a company vice president. She is a member of the Institute of Management Accountants and holds a certificate in management accounting. She has a small staff of accountants, including a controller and a treasurer, and a staff of accounting input operators who maintain the financial records. A partial list of Waterways accounts and their balances for the month of November 2016 follows.

Accounts Receivable	$275,000
Advertising Expenses	54,000
Cash	260,000
DepreciationFactory Equipment	16,800
DepreciationOffice Equipment	2,400
Direct Labor	42,000
Factory Supplies Used	16,800
Factory Utilities	10,200
Finished Goods Inventory, November 1	72,550
Finished Goods Inventory, November 30	68,800
Indirect Labor	48,000
Office Supplies Expense	1,600
Other Administrative Expenses	72,000
Prepaid Expenses	41,250
Raw Materials Inventory, November 1	38,000
Raw Materials Inventory, November 30	52,700
Raw Materials Purchases	184,500
RentFactory Equipment	47,000
RepairsFactory Equipment	4,500
Salaries	325,000
Sales Revenue	1,350,000
Sales Commissions	40,500
Work in Process Inventory, November 1	52,700
Work in Process Inventory, November 30	42,000

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A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured schedule.

WATERWAYS CORPORATION Cost of Goods Manufactured Schedule For the Year Ended November, 2016For the Month of November, 2016November, 2016
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions	$
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions	$
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
AddLess: Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions	$
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
AddLess: Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborDirect MaterialsDirect Materials UsedFactory Supplies UsedFactory UtilitiesIndirect LaborManufacturing OverheadTotal Cost of Work in ProcessTotal Factory OverheadTotal Manufacturing CostsTotal Raw Materials Available for UseRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSales RevenueSales Commissions	$

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A list of accounts and their values are given above. From this information, prepare an income statement.

WATERWAYS CORPORATION Income Statement For the Year Ended November, 2016November, 2016For the Month of November, 2016
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)	$
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)	$
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
AddLess: Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)	$
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)
Accounts ReceivableCost of Goods ManufacturedDepreciationFactory EquipmentDirect LaborFactory Supplies UsedFactory UtilitiesIndirect LaborRaw Materials Inventory, November 30Raw Materials Inventory, November 1Raw Material PurchasesRentFactory EquipmentRepairsFactory EquipmentWork in Process Inventory, November 1Work in Process Inventory, November 30Advertising ExpensesCashDepreciationOffice EquipmentFinished Goods Inventory, November 30Finished Goods Inventory, November 1Office Supplies ExpenseOther Administrative ExpensesPrepaid ExpensesSalariesSalesSales CommissionsCost of Goods SoldCost of Goods Available for SaleGross ProfitSelling ExpensesTotal Selling ExpensesAdministrative ExpensesTotal Administrative ExpensesOperating ExpensesTotal Operating ExpensesNet Income / (Loss)	$

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A list of accounts and their values are given above. From this information, prepare the current assets section of the balance sheet for Waterways Corporation for the month of November 2016. (List Current Assets in order of liquidity.)

WATERWAYS CORPORATION Balance Sheet (partial) For the Month of November 30, 2016For the Year Ended November 30, 2016November 30, 2016
Assets
Current AssetsCurrent LiabilitiesIntangible AssetsInventoriesLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
	$
Current AssetsCurrent LiabilitiesIntangible AssetsInventoriesLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' Equity
	$