Q.The following data refer to Sydney Manufacturing Pty Ltd for 2021.

Sales revenue	$1,45,000
Raw material inventory, 1 January 2021	30,000
Purchase of raw material	205,000
Raw material inventory, 31 December 2021	20,000
Indirect materials	15,000
Direct labour cost incurred	350,000
Factory managers salary	35,000
Selling and administrative expense	300,000
Indirect labour cost incurred	90,000
Factory machine rent	40,000
Depression on factory building	26,000
Property taxes, factory building	6,000
Depression on factory equipment	24,000
Insurance on factory and equipment	14,000
Delivery expenses	100,000
Work in process inventory, 1 January 2021	80,000
Work in process inventory, 31 December 2021	50,000
Finished goods inventory, 1 January 2021	110,000
Finished goods inventory, 31 December 2021	120,000
Factory utilities	65,000
Sales Commissions	150,000
Sales revenue	$1,45,000
Raw material inventory, 1 January 2021	30,000
Purchase of raw material	205,000
Raw material inventory, 31 December 2021	20,000
Indirect materials	15,000
Direct labour cost incurred	350,000
Factory managers salary	35,000
Selling and administrative expense	300,000
Indirect labour cost incurred	90,000
Factory machine rent	40,000
Depression on factory building	26,000
Property taxes, factory building	6,000
Depression on factory equipment	24,000
Insurance on factory and equipment	14,000
Delivery expenses	100,000
Work in process inventory, 1 January 2021	80,000
Work in process inventory, 31 December 2021	50,000
Finished goods inventory, 1 January 2021	110,000
Finished goods inventory, 31 December 2021	120,000
Factory utilities	65,000
Sales Commissions	150,000
Raw material inventory, 1 January 2021	30,000
Purchase of raw material	205,000
Raw material inventory, 31 December 2021	20,000
Indirect materials	15,000
Direct labour cost incurred	350,000
Factory managers salary	35,000
Selling and administrative expense	300,000
Indirect labour cost incurred	90,000
Factory machine rent	40,000
Depression on factory building	26,000
Property taxes, factory building	6,000
Depression on factory equipment	24,000
Insurance on factory and equipment	14,000
Delivery expenses	100,000
Work in process inventory, 1 January 2021	80,000
Work in process inventory, 31 December 2021	50,000
Finished goods inventory, 1 January 2021	110,000
Finished goods inventory, 31 December 2021	120,000
Factory utilities	65,000
Sales Commissions	150,000

A. Assume that Sydney Manufacturing Pty Ltd accounting record show the balance of the following current asset accounts: Cash $17,000; Account receivable (net) $120,000;Prepaid Expenses $47,000, and Short term investments $26,000. Prepare the current assets section of the balance sheet for Sydney Manufacturing Pty Ltd as of December 31,2021.

B. What is the relationship between the Schedule of Cost goods manufactured and cost of goods sold in Sydney Manufacturing Pty ltd?