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 lawre. It has a centrally located factory in a US city that manufactures the products it markets to retail outlets across the ration. It also maintains a division that performs installation and warranty serving in sb metropolitan areas. The mission of Waterways is to manufacture quality parts that can be used for cttective Irrigation projects that also conserve water. By that cort, the company hopes to satisfy its auxtomers, 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 company's inception is Will's brother, Ben, whose sprinkler designs and ideas about the installation of proper systems have been a major basis of the commarys success Benis 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 trainine Mision 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 Writer's direction because of the uniqueness of the company's products. There is a small human resources department under the direction of Sally Fenton, a Vicepresident who handles the employee paperwork though hirine 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 headed by Ann Headman, who is the chief financial officer (CFO) and a comparty 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, includinga controler 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 follows. Accounts Receivable Advertisine Expenses Cash Depreciation-Factory Equipment Depreciation-omice Equipment Direct Labor Factory Supplies Used Factory Utilities Finished Goods Inventory, November 30 Finished Goods Inventary, October 31 Indirect Labor Office Supplies Expense Other Administrative Expenses Prepaid Expenses Raw Materials Inventory, November 30 Raw Materials twentory, October 31 Raw Materials Purchases Rent-Factory Equipment Repairs-Factory Equipment $276,700 53,900 240,000 17,000 2,100 42,000 16,600 10,100 69,000 73,200 46,200 1,600 72,700 41,600 53,100 37.900 182,800 46,900 4,400 323,000 1355,300 40,400 52,800 41,900 Salarles Sales Revenue Sales Commissions Work In Process Inventory October 31 Work In Process Inventary, November 20 A list of accounts and their values are given above. From this information, prepare a cost of goods manufactured scl WATERWAYS CORPORATION Cost of Goods Manufactured Schedule $ > > $ I > > > -> > A list of accounts and their values are given above. From this information, prepare an income statement. WATERWAYS CORPORATION Income Statement > + $ . . > . $ 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) Assets Show transcribed image text