The following data (in thousands of dollars) have been taken from the accounting

records of Larop Corporation for the just completed year.

Sales ................................................................................ $870

Purchases of raw materials ............................................. $190

Direct labor ..................................................................... $200

Manufacturing overhead ................................................. $230

Administrative expenses ................................................. $150

Selling expenses .............................................................. $140

Raw materials inventory, beginning ............................... $10

Raw materials inventory, ending .................................... $40

Work in process inventory, beginning ............................ $20

Work in process inventory, ending ................................. $50

Finished goods inventory, beginning .............................. $90

Finished goods inventory, ending ................................... $130

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 a Income Statement in

good form