The following data from the just-completed year are taken from the accounting records of Eccles Company:

Sales	$ 755,000
Direct labour cost	106,000
Raw material purchases	148,000
Selling expenses	116,000
Administrative expenses	59,000
Manufacturing overhead applied to work in process	226,000
Actual manufacturing overhead costs	252,000

Inventories:	Beginning of Year		End of Year
Raw materials	$ 9,600		$11,600
Work in process	6,600		21,600
Finished goods	71,600		26,600

Required:

1.	Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.

2.	Prepare a schedule of cost of goods sold.

3.	Prepare an income statement.