The Income Statement and Balance Sheet columns of Braiden Company’s work sheet are shown below.Braiden CompanyWork Sheet (Partial)For Year Ended December 31, 20 –Additional information needed to prepare the financial statements is as follows:Materials inventory, January 1 ………. $ 4,140Work in process inventory, January 1 …….. 5,730Finished goods inventory, January 1 ……… 16,825Materials purchases ………….. 136,665Direct labor ……………… 76,000Actual factory overhead …………. 92,500Indirect materials charged to production …….. 5,400Required1. Prepare an income statement and a schedule of cost of goods manufactured for the year ended December 31, 20–.2. Prepare a statement of retained earnings for the year ended December 31, 20–. 3. Prepare a balance sheet as of December 31,20–.
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The Income Statement and Balance Sheet columns of Braiden Company s



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