At May $31,2027,$ the accounts of Sandhill Company show the following.

May $1$ inventories$-$finished goods $$15,080,$ work in process $$17,560,$ and raw materials $$9,760.$

May $31$ inventories$-$finished goods $$11,400,$ work in process $$19,120,$ and raw materials $$8,480.$

Debit postings to work in process were direct materials $$74,920,$ direct labor $$60,000,$ and manufacturing overhead applied $$48,000.($Assume that overhead applied was equal to overhead incurred.$)$

Sales revenue totaled $$258,000.$Prepare a condensed cost of goods manufactured schedule for May $2027$ and an income statement for May $2027$ through gross profit.