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Prepare an income statement and the current assets section

Problem - Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows.

Instructions

(a) Indicate the missing amount for each letter.

(b) Prepare a condensed cost of goods manufactured schedule for Case 1.

(c) Prepare an income statement and the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $4,000, Receivables (net) $15,000, Raw Materials $600, and Prepaid Expenses $400.

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