he following data have been taken from the accounting records of Larder Corporation for the just completed year. Sales $1,900,000 Purchases of raw materials $320,000 Direct labor $355,000 Applied Manufacturing overhead $340,000 Administrative expenses ........ $325,000 Selling expenses..... $210,000 Raw materials inventory, beginning $140,000 Raw materials inventory, ending... $190,000 Work in process inventory, beginning.. $115,000 Work in process inventory, ending. $150,000 Finished goods inventory, beginning. $175,000 Finished goods inventory, ending $140,000 Required: a. Prepare a Schedule of Cost of Goods Manufactured in good form. b. Compute the Cost of Goods Sold. c. Using data from your answers above, prepare an Income Statement (using the traditional format)