Spritz2 Company, a soft-drink producers, had the following inventory balances at the beginning and end of the current year (in $):

Inventory account	1 January	31 December
Raw material	167000	186000
Work in process	329000	296000
Finished goods	428000	476000

During the year, the company has incurred the following costs (in $):

Raw material purchased	580000
Machine operators wages	1080000
Indirect materials	42000
Indirect labour	80000
Depreciation on plant and equipment	320000
Depreciation on office equipment	15000
Rental of office space for sales personnel	30000
Utilities for factory	60000
Utilities for office	10000
Other related-product cost	83000
Selling and administrative cost	264000
Sales personnels commission	132600

Total overtime premiums paid to the machine operators in factory is 30% over the normal pay rate. Sales revenue was $3 152 000 for the year. The firms tax rate is 30 per cent.

Required:

1. Prepare a schedule of cost of goods manufactured.
2. Prepare a schedule of cost of goods sold.
3. Prepare an income statement.