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Waterways Corporation is a private corporation formed for the purpose of providing the products and the services needed to irrigate farms, parks, commercial products, and private homes. It has a centrally located factory in a U.S. city that manufactures the products it markets to retail outlets across the nation. It also maintains a division that provides installation and warranty servicing in six metropolitan areas. The month of November has just ended and Waterways needs to generate a cost of goods manufactured and cost of goods sold for its income statement for the month. The following data is provided:

Accounts Receivable	$ 275,000
Advertising Expense	54,000
Cash	260,000
Depreciation Factory Equipment	16,800
Depreciation Office Equipment	2,400
Direct Labor	42,000
Factory Supplies Used	16,800
Factory Utilities	10,200
Finished Goods Inventory November 30	68,800
Finished Goods Inventory October 31	72,550
Indirect Labor	48,000
Office Supplies Expense	1,600
Other Administrative Expenses	72,000
Prepaid Expenses	41,250
Raw Materials Inventory November 30	52,700
Raw Materials Inventory October 31	38,000
Raw Materials Purchases	184,500
Rent Factory Equipment	47,000
Repairs Factory Equipment	4,500
Salaries	325,000
Sales	1,350,000
Sales Commissions	40,500
Work In Process Inventory November 30	52,700
Work In Process Inventory October 31	42,000
Property Tax on Factory	5,500

Instructions:

From the above information, prepare a cost of goods manufactured schedule, an income statement, and the current asset section of the balance sheet for Waterways Corporation for the month of November.

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