Page 33 Exercise 3 LANCTON TEXTILE MILLS INC. (in 000s of dollars) Notopy or Pos Direct labour Work in process, April 15, 2019 Sales discounts Manufacturing overhead Other income Work in process, April 16, 2018 Other expense, interest Raw materials, April 15, 2019 Administrative expenses Finished goods, April 16, 2018 294 Selling expenses Sales returns and allowances Raw materials, April 16, 2018 Finished goods, April 15, 2019 Sales 222 147 33 498 219 5,490 255 99 General expenses Indirect labour Other expense, royalty Materials purchases 18 2,958 Assignment Income statement items are listed above in random order. All are period accounts for the year ending April 15, 2019, except where noted by date. Assuming a tax rate of 40 per cent, prepare a statement of cost of goods manufactured and an income statement for Lancton Textiles Mills Inc. for the year ending April 15, 2019