With requirement 1, I just need the last account im missing at the bottom, which is supposed to line up as a credit of 8500.

Tyler Corporation reports the following results for its first month of operations ended December 31. Overhead is applied using a predetermined overhead rate of 80% of direct materials cost. Raw materials purchased $ 21,600 Sales $ 42,400 Direct materials used 13,600 Cost of goods sold 30,000 Direct labor used 21,600 Selling expenses 3,700 Cost of goods manufactured 35,200 General and administrative expenses 4,800 1. Prepare an income statement for the month ended December 31. 2. Determine the December 31 ending inventory balances for Raw Materials, Work in Process, and Finished Goods. Hint Because Tyler is in its first month of operations, each account begins with a $0 balance; also, there were no indirect materials used this month. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the month ended December 31. TYLER CORPORATION Income Statement For Month Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Selling expenses 3,700 General and administrative expenses 4,800 42,400 30,000 12,400 8,500 3,900 $ Required 1 Required 2 > Tyler Corporation reports the following results for its first month of operations ended December 31. Overhead is applied using a predetermined overhead rate of 80% of direct materials cost. Raw materials purchased Direct materials used Direct labor used Cost of goods manufactured $ 21,600 Sales 13,600 Cost of goods sold 21,600 Selling expenses 35,200 General and administrative expenses $ 42,400 30,000 3,700 4,800 1. Prepare an income statement for the month ended December 31. 2. Determine the December 31 ending inventory balances for Raw Materials, Work in Process, and Finished Goods. Hint: Because Tyler is in its first month of operations, each account begins with a $0 balance; also, there were no indirect materials used this month. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the December 31 ending inventory balances for Raw Materials, Work in Process, and Finished Goods. Hint: Because Tyler is in its first month of operations, each account begins with a $0 balance; also, there were no indirect materials used this month. Work in Process Inventory 0 x Beginning x Purchases Beginning Purchases Direct materials Cost of goods sold Ending Raw Materials Inventory 0 0 Indirect materials Cost of goods 21,600 35,200 manufactured x 13,600 X 0 Indirect materials X 30.000 X 30,000 Ending Cost of goods sold Ending 0 Ending Finished Goods Inventory 0 Beginning Purchases X X Cost of goods sold Ending 0 Ending