Question

$3$

The following data

$($

in thousands of dollars

$)$

$$have been taken from the accounting records of Larner Corporation for the year just completed:

Sales $

$8$

$7$

$0$

Purchases of raw materials

$*$

$$$

$1$

$1$

$0$

Direct labour $

$1$

$3$

$0$

Manufacturing overhead $

$2$

$0$

$0$

Administrative expenses $

$1$

$6$

$0$

Selling expenses $

$1$

$4$

$0$

Raw materials inventory, beginning

$*$

$$$

$3$

$0$

Raw materials inventory, ending

$*$

$$$

$6$

$0$

Work in process inventory, beginning $

$5$

$0$

Work in process inventory, ending $

$1$

$0$

Finished goods inventory, beginning $

$1$

$5$

$0$

Finished goods inventory, ending $

$1$

$4$

$0$ sing data prepare an income statement data in good form