Prepare the current assets section. ( List Current Assets in order of liquidity.) ROLAND COMPANY Balance Sheet December 31, 2020 Current Assets Cash $ Accounts Receivable Inventories Finished Goods Work in Process Raw Materials Prepaid Expenses Total Current Assets Click if you would like to Show Work for this question: Open Show WorkPractice Exercise 1 Knight Company reports the following costs and expenses in May. Factory utilities $16,400 Direct labor $72,100 Depreciation on factory equipment 13,350 Sales salaries 47,500 Depreciation on delivery trucks 4,200 Property taxes on factory building 2,600 Indirect factory labor 50,600 Repairs to office equipment 2,300 Indirect materials 85,000 Factory repairs 2,880 Direct materials used 142,700 Advertising 16,900 Factory manager's salary 8,600 Office supplies used 3,420 From the information: Determine the total amount of manufacturing overhead. Manufacturing overhead Determine the total amount of product costs. Product costsPractice Brief Exercise 1 In alphabetical order below are current asset items for Roland Company's balance sheet at December 31, 2020. Accounts receivable $206,000 Cash 77,000 Finished goods 84,000 Prepaid expenses 51,000 Raw materials 85,000 Work in process 90,000 Prepare the current assets section. (List Current Assets in order of liquidity.) ROLAND COMPANY Balance Sheet December 31, 2020 Current Assets Cash Accounts Receivable Inventories Finished Goods Work in Process