HiSing manufactures beverages for the Taiwanese market. The following data relate to its July 31, 2017 fiscal year end: Raw materials inventory, August 1, 2016 $185,000 Raw materials inventory, July 31, 2017 140,000 Work in process inventory, August 1, 2016 25,000 Work in process inventory, July 31, 2017 35,000 Finished goods inventory, August 1, 2016 375,000 Finished goods inventory, July 31, 2017 390,000 Direct labour 1,200,000 Sales commissions 400,000 Factory supervisors wages 240,000 Company president's salary 250,000 Purchases of raw materials 3,250,000 Property taxes (75% factory, 25% office) 100,000 Depreciation (90% factory, 10% office) 1,700,000 Repairs and maintenance (95% factory, 5% office) 200,000 Utilities expense (90% factory, 10% office) 600,000 Sales revenue 10,300,000 Advertising 2,000,000

Required: Based on the information above: d.) Prepare a schedule of cost of goods manufactured. e.) Prepare a schedule of cost of goods sold. f.) Prepare an income statement (assuming a tax rate a tax rate is 25%)