The following data $($in thousands of dollars$)$ have been taken from the accounting records of Larner Corporation for the year just completed:

Sales $$870$

Purchase of raw materials $100$

Direct labour $140$

Manufacturing overhead $220$

Administrative expenses $150$

Selling expenses $150$

Raw materials inventory, beginning $50$

Raw materials inventory, ending $75$

Work$-$in$-$process inventory, beginning $60$

Work$-$in$-$process inventory, ending $5$

Finished goods inventory, beginning $120$

Finished goods inventory, ending $180$

Required:

$($a$)$ Prepare a schedule of cost of goods manufactured in good form.

$($b$)$ Compute the cost of goods sold.

$($c$)$ Using data from your answers above as needed, prepare an income statement in good form.