Your answer is partially correct. Prepare an income statement through gross profit SAGE HILL COMPANY Income Statement (Partial) For the Year Ended June 30, 2022 Sales Revenue Less Sales Discounts Net Sales 4 $ Cost of Goods Sold 4 4 S Less eTextbook and Media SAGE HILL COMPANY Cost of Goods Manufactured Schedule For the Year Ended June 30, 2022 Work in Process, July 1, 2021 Direct Materials . Raw Materials Inventory, July 1.2021 54000 Raw Materials Purchases 98100 Total Raw Materials Available for Use 152700 Less: Raw Materials Inventory, June 30, 2022 44200 i Direct Materials Used Direct Labor Manufacturing Overhead Indirect Labor 25660 Factory Insurance 4700 Factory Machinery Depreciation 17700 31600 Factory Utilities Factory Manager's Salary 65400 Factory Property Taxes . 9610 Factory Repairs 2500 Total Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process Less : Work In Process. June 30, 2022 Cost of Goods Manufactured eTextbook and Media List of Accounts Attempts: unlimited The following data were taken from the records of Sage Hill Company for the fiscal year ended June 30, 2022. $54,600 $35,300 44,200 4,700 96,800 17,700 26,300 31,600 Raw Materials Inventory 7/1/21 Raw Materials Inventory 6/30/22 Finished Goods Inventory 7/1/21 Finished Goods Inventory 6/30/22 Work in Process Inventory 7/1/21 Work in Process Inventory 6/30/22 Direct Labor Indirect Labor 24,600 8,550 Accounts Receivables Factory Insurance Factory Machinery Depreciation Factory Utilities Office Utilities Expense Sales Revenue Sales Discounts Factory Manager's Salary Factory Property Taxes Factory Repairs 29,600 562.900 147,050 4,600 25,660 65,400 9.610 2,500 Raw Materials Purchases 98,100 Cash 36,300