Question 1 (25 Marks) The following data (in thousands of dollars) have been taken from the accounting records of Larsen Corporation for the just completed year. Sales Purchases of raw materials Direct labour Manufacturing overhead Administrative expenses Selling expenses Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending $860 $150 $110 $210 $130 $180 $40 $80 $20 $80 $80 $150 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 as needed, prepare an Income Statement in good form