The following data have been taken from the accounting records of Larder Corporation for the just completed year.

	Sales	$2,115,000
	Purchases of raw materials	$405,000
	Direct labor	$415,000
	Applied Manufacturing overhead	$510,000
	Administrative expenses	$250,000
	Selling expenses	$210,000
	Raw materials inventory, beginning	$190,000
	Raw materials inventory, ending	$140,000
	Work in process inventory, beginning	$95,000
	Work in process inventory, ending	$120,000
	Finished goods inventory, beginning	$115,000
	Finished goods inventory, ending	$140,000

Required:

1. Prepare a Schedule of Cost of Goods Manufactured in good form.
2. Compute the Cost of Goods Sold.
3. Using data from your answers above, prepare an Income Statement (using the traditional format).