The following data (in thousands of dollars) have been taken from the accounting records of Orange Corporation for the year ended October 31st, 2020:

Sales $870 Purchases of raw materials $110 Direct labour $130 Indirect materials $70 Indirect labour $100 Depreciation of equipment used in production $30 Administrative expenses $160 Selling expenses $140 Raw materials inventory, beginning $30 Raw materials inventory, ending $60 Work in process inventory, beginning $50 Work in process inventory, ending $10 Finished goods inventory, beginning $150 Finished goods inventory, ending $140

(a.) Prepare a formal schedule of cost of goods manufactured (i.e. in good form). (b.) Compute the cost of goods sold.

(c.) Using data from your answers above as needed, prepare a traditional income statement in good