Calculating Cost of Goods Manufactured and Sold and Preparing an Income Statement StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and...

StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March:

Required:

Based on this information, prepare the following for StorSmart:

1. A cost of goods manufactured report.

2. An income statement for the month of March.