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 The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020.
Raw Materials Inventory 7/1/19 $53,000 Factory Insurance $4,800
Raw Materials Inventory 6/30/20 48,400 Factory Machinery Depreciation 18,600
Finished Goods Inventory 7/1/19 97,400 Factory Utilities 30,500
Finished Goods Inventory 6/30/20 23,100 Office Utilities Expense 8,750
Work in Process Inventory 7/1/19 28,000 Sales Revenue 563,100
Work in Process Inventory 6/30/20 27,100 Sales Discounts 5,000
Direct Labor 143,150 Plant Manager’s Salary 64,200
Indirect Labor 25,760 Factory Property Taxes 9,610
Accounts Receivable 32,700 Factory Repairs 1,700
Raw Materials Purchases 97,000
Cash 41,000
Prepare a cost of goods manufactured schedule. (Assume all raw materials used were direct materials.)
Prepare an income statement through gross profit.
Prepare the current assets section of the balance sheet at June 30, 2020.

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