The following account balances were included in the trial balance of Concord Corporation at June $30,2023$: Supplies expense $($office$)$

$3,550$

Depreciation expense on office furniture

and equipment

During $2023,$ Concord incurred production salary and wage costs of $$696,500,$ consumed raw materials and other production

supplies of $$479,170,$ and had an increase in work$-$in$-$process and finished goods inventories of $$113,900.$ The Retained Earnings

account had a balance of $$283,000$ at June $30,2023,$ before closing. There are $180,000$ common shares outstanding. Concord has

elected to adopt IFRS. $($Hint: Production payroll and materials costs reduced by the increase in ending work$-$in$-$process and finished

goods inventories $=$ the cost of goods sold.$)($c$)$

Prepare an income statement for the year ended June $30,2023,$ using the single$-$step format and showing expenses by nature.

$($Round per share answer to $2$ decimal places, e$.$g$.52\mathrm{.}74.)$