Using the above information, complete the following:

a. Prepare the January income statement for Air Temp Manufacturing Company.

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b. Determine the inventory balances at the end of the first month of operations. Manufacturing company balance sheet Partial balance sheet data for Lawler Company at December 31, 2012, are as follows:

Finished   goods inventory

$23,000

Supplies

$41,000

Prepaid   insurance

23,000

Materials   inventory

50,000

Accounts   receivable

60,000

Cash

64,000

Work in   process inventory

90,000    

Prepare the Current Assets section of Lawler Company’s balance sheet at

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