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

Sales

$860

Purchases of raw materials

$150

Direct labour

$110

Manufacturing overhead

$210

Administrative expenses

$130

Selling expenses

$180

Raw materials inventory, beginning

$40

Raw materials inventory, ending

$80

Work in process inventory, beginning

$20

Work in process inventory, ending

$80

Finished goods inventory, beginning

$80

Finished goods inventory, ending

$150

Required:

a.Prepare a Schedule of Cost of Goods Manufactured in good form.

b.Prepare an Income statement in good form.