1. EX.01.09.EXCEL.ALGO 2. EX.01.15.EXCEL.ALGO 3. PR.01.02A Progress: 1/3 items Assignment Score: 0.0% This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet 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 Operating expenses: Total operating expenses b. 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 $ Check My Work Email Instructor Save and Exit m Next Submit Assignment for Grading

Financial statements of a manufacturing firm The following events took place for Scrensen Manufocturing Company during January, the first month of its operations as a producer of diptal video monitors: a. Purchased $240,000 of materials. b. Used $172,800 of erest materials in production. c. Incurred $432,000 of direct labor wages. d. Incurred $172,800 of factory overthead, Transferred $729,600 of work in process to finched goods. f. Sold goods for $1,152,000. 9. Sold goods with a cost of $648,000. h. Incurred 5206,400 of seling expense. 1. Incurred $120,000 of administrative expense. Thas information has been collected in the Microsoft Excel Online file. Open the soreadsheet, perform the required anslysis, and input your answers in the questions below. x Using the information given, cemplete the following: a. Preabre the January income statemene for Sorensen Manufacturing Company, Round your answors to the nearest dollar. b. Determine the imventory balances at the end of the first month of operabions. Round your answers to the nearest dollar