Hello, please help me find the answer to this question. The first image includes data...
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Hello, please help me find the answer to this question. The first image includes data and the second image features 10 empty boxes, I need the figures for each of the 10 boxes that corresponds to the amount of: Revenues, Cost of goods sold, Gross profit, Selling expenses, Administrative expenses, Total operating expenses, Net income, Materials, Work in progress and Finished goods.
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Financial statements of a manufacturing firm The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: a. Purchased $232,000 of materials. b. Used $167,040 of direct materials in production. c. Incurred $417,600 of direct labor wages. d. Incurred $167,000 of factory overhead. e. Transferred $705,300 of work in process to finished goods. f. Sold goods for $1,113,600. g. Sold goods with a cost of $626,400. h. Incurred $199,500 of selling expense. i. Incurred $116,000 of administrative expense.Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Round your answers to the nearest dollar. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 For the Month Ended January 31 Revenues v Cost of goods sold v Gross profit v Operating expenses: Selling expenses Administrative expenses Total operating expenses Net income v . Determine the inventory balances at the end of the first month of operations. Round your answers to the nearest dollar. Sorensen Manufacturing Company Inventory Balances For the Month Ended January 31 Inventory balances on January 31: Materials Work in process Finished goods
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