The information that follows is from Manufacturing Company's trial balance.

1. Manufacturing organization use asset accounts that are not needed by retail organizations.
(a) List the titles of the asset accounts that are specifically related to manufacturing organizations.
(b) List the titles of the asset, liability, and equity accounts that you would see on the balance sheets of both manufacturing and retail organizations.
2. Assuming that the following information reflects the results of operations for the year, calculate the
(a) gross margin,
(b) cost of goods sold,
(c) cost of goods available for sale, and
(d) cost of goods manufactured:
Operating income.................... ...... $138,130
Operating expense............................. $3,670
Sales........................................... 500,000
Finished goods inventory, beginning...... 50, 900
Finished goods inventory, ended........ ... 54,800

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Credits Debits 34,000 27,000 31,000 47,900 54,800 5,700 9,330 160,000 575,000 Cash Accounts Receivable Materials Inventory, ending Work in Process Inventory, ending Finished Goods Inventory, ending Factory Supplies Small Tools Land Factory Building Accumulated Depreciation-Factory Building Factory Equipment Accumulated Depreciation-Factory Equipment Patents Accounts Payable Insurance Premiums Payable Income Taxes Payable Mortgage Payable Common Stock Retained Earnings 199,000 310,000 137,000 33,500 26,900 6,700 41,500 343,000 200,000 334,130 1,288,230 1,288,230