Worksheet, Income Statements, and Schedule of Cost of Goods Manufactured and Sold The following is the trial balance of Hyde Company at December 31,2016, together with the worksheet adjustments. Hyde Company uses perpetual inventory procedures.

Trial Balance Adjustment Debit Credit Debit Credit Cash Materials inventory Work in process inventory Finished goods inventory Prepaid insurance $56,000 104,000 60,000 84,000 5,600 480,000 (1) $ 2,800 Factory machinery Accumulated depreciation-Factory machinery Patents Accounts payable Common stock, $34 par value Retained earnings Sales Manufacturing overhead Cost of goods sold Sales salaries expense Advertising expense Non-factory administrative expenses $100,000 (2) 34,000 81,600 (3) 6,400 132,400 340,000 50,800 1,240,000 34,000 (2) $34,000 828,000 104,000 27,200 66,800 (1) 2,800 (3) 6,400 $1,897,200 $1,897,200 Income tax expenses (4) 40,000 Income tax payable (4) 40,000 $83,200 $83,200