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PROBLEM 2-6 Preparing Financial Statements for a Manufacturer [LO5 - CC9, 10; LO6 - CC11, 12] ment followe The compuny's controller sesigned a month ako. Hitda, a new aststant in the coomollers atfice, prepured the income statement above Hifda has had little experience in manutacturing oper mions After seeing the our six moaths are up and thas loss for August is even worse than laly 1 think it's tume to starn lonking for comeone to buy out the company's asyets-if we dorrt, within a fen mantss thene woer be any ased to sell: Additional information about the company follows The remaining amounts apply to selling and admanisuatre actovities. b. Inventory balances at the begunutg and end of August mete as follim = c. Only 60 of the rent on facilities applies fo factory operations the remainder applias to selling and administrative activities. The president has asked you to - check over the incorne statement and make a recommandation about whether the company should look for a buyer for its asuets Reguired: 1. As ane step in gathering data for a recommendation to the president, prepare a schedule of cors dy manufactured in good form for August. 2. As a second step, prepare a new income statement for August. 3. On the hasis of your statements prepared in Requirements (1) and (2), would you recommend thiti company look for a buyer