Question 1: The following are related transactions of XYZ manufacturing company.

Particulars	Amt ($)
Raw materials purchase from suppliers	11,89,000
Wages to productive workers	52,500
Stock of raw material (1-1-19)	95,000
Stock of raw material (31-12-19)	91,500
Stock of finished goods (1-1-19)	84,000
Stock of finished goods(31-12-19)	71,000
Stock of work-in-process(1-1-19)	48,000
Stock-of work-in-process(31-12-19)	45,000
Selling expense	11,400
Repair and maintenance	18,000
Sales to customers	32,11,000
Freight in	21,000
Factory rent and power	2,15,000
Outward return	9,000
Wages to unproductive labor	53,750
supplies	24,000
Depreciation of plant & machinery	31,500
Direct chargeable expense	21,500
Sundry factory expenses	1,10,000
Salesmans salaries & commission	36,500
Inward return	11,500
Discount to suppliers	10,000
Office rent	22,500
Sundry office expenses	16,500
Advertisement expense	23,500
Carriage outward	12,500

Required:

(a) Prepare three statement

1. Cost of goods sold statement
2. Cost sales statement
3. Income statement