Prepare a statement of Cost of Goods Manufactured for the year ended 30th June, and

1. Income Statement for John's Ltd. for the year ended 30^thJune 2017.

John's Ltd accounting department provided following financial information:

Depreciation Expense - Factory Equipment

$90,000

Direct Labour

$1,284,000

Raw Material Inventory (1st July, 2016)

$183,000

Raw Material Inventory (30th June, 2017)

$186,000

Factory Rent

$152,820

Finished Goods (1st July, 2016)

$264,000

Finished Goods (30th June, 2017)

$345,000

Indirect Labour

$75,000

Indirect Materials

$52,500

Sales Revenue

$6,751,500

Administration Expenses

$600,000

Selling & Distribution Expenses

$1,200,000

Purchase of Raw Material

$1,200,360

Freight In

$90,000

Work in Process (1st July, 2016)

$60,600

Work in Process (30th June, 2017)

$57,330