Askari Craft Limited have computerized accounting system on January 31 2019 the programmer meant for preparing monthly Financial statements was run but unfortunately a computer virus destroyed all the records from these damaged records only the following figures could be obtained Sales for the month Rs 400,000 Factory overhead 25,000 Direct materials purchased 155,000 Cost of goods available for sale 315,000 Balance sheet of the company as on December 31, 2019 contains following inventory balances Direct materials Rs 25,000 Work in process 45,000 Finished goods 70,000 The managing director has directed the chief accountant to prepare operating statement for the month on estimated basis so that performance of January may be reviewed Chief accountant after analyzing records of previous years developed following relationships Factory overhead is 10% of the total current manufacturing cost Direct labor is 75% of the total conversion cost Gross profit and operating profit are respectively 35% and 15% of net sales Proportion between selling expenses and administration expenses of 5:3 Required: (a) Prepare income statement for the month (b) Prepare cost of goods manufactured and sold statement indicating therein values of ending inventories