AP 21-4 (Regular GST Return) Lotor Inc. (Lotor) is a CCPC that was incorporated in Alberta in 2013. Lotor operates exclusively within the province and is registered for GST purposes as an annual filer. The income statement for the current year is shown below. None of the amounts include GST. Sales Less expenses: Cost of fully taxable goods sold Cost of zero-rated goods sold Amortization expense Salaries and wages Interest expense Other expenses Income tax Net accounting income Other Information: ($471,200) ( 288,500) ( 350,000) ( 232,000) $2,980,000 ( 142,000) ( 427,000) (223,000) $ 846,300 (2,133,700) 1. Reported sales for the year are broken down as 12.5% for exempt supplies, 20.5% for zero- rated supplies, and 67% for taxable supplies. 2. All of the cost of goods sold represents either taxable or zero-rated supplies. During the year, purchases of taxable goods amounted to $419,100 and purchases of zero-rated goods were $296,400. These purchase amounts are net of any GST charged.