Reference no: EM132626535

Question - A partial list of Waterways' accounts and their balances for the month of November follows:

Accounts Receivable - $275,000

Advertising Expenses - 54,000

Cash - 260,000

Depreciation-Factory Equipment - 16,800

Depreciation-Office Equipment - 2,400

Direct Labor - 42,000

Factory Supplies Used - 16,800

Factory Utilities - 10,200

Finished Goods Inventory, November 30 - 68,800

Finished Goods Inventory, October 31 - 72,550

Indirect Labor - 48,000

Office Supplies Expense - 1,600

Other Administrative Expenses - 72,000

Prepaid Expenses - 41,250

Raw Materials Inventory, November 30. - 52,700

Raw Materials Inventory, October 31 - 38,000

Raw Materials Purchases - 184,500

Rent-Factory Equipment - 47,000

Repairs-Factory Equipment - 4,500

Salaries - 325,000

Sales Revenue - 1,350,000

Sales Commissions - 40,500

Work in Process Inventory, October31 - 52,700

Work in Process Inventory, November30 - 42,000

Required - A list of accounts and their values are given above. Using this information, make an income statement, and a partial balance sheet for Waterways Corporation for the month of November.