Case 1 2 $9.780 $ 3,390 (8) Direct materials used Direct labor Manufacturing overhead Total manufacturing costs 5,110 8,880 8.920 4,140 23,770 16,450 (a) 1,990 9.590 (h) 7.780 3,590 (b) 25,250 32730 (0) 2,790 17,980 1,500 22,450 Beginning work in process inventory Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit Operating expenses 4,820 (c) 4,160 22,800 26.610 00) 18,670 (d) 23.590 (k) 4,130 3,020 3790 (e) 7,640 3,260 2.500 (0) Net Income 530 (0) 5,140 Prepare an income statement for Case 1. CASE 1 Income Statement $ e . Prepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $3,330, Receivables (net) $15,830, Raw Materials $690, and Prepaid Expenses $490. (List Current Assets in order of liquidity.) CASE 1 (Partial) Balance Sheet . $