The following data relates to the Taylor, Inc:
Direct Materials Inventory, Beginning	$110
Direct Materials Inventory, Ending	$80
Direct Materials Purchases	$430
Direct Labor	$210
Factory Overhead	$240
Work-in-Process Inventory, Beginning	$170
Work-in-Process Inventory, Ending	$180
Finished Goods Inventory, Beginning	$320
Finished Goods Inventory, Ending	$240
Sales Revenue	$1,520
Selling and Administrative Expenses	$210
Income Tax Rate	21%
Required:
a. Prepare a Statement of Cost of Goods Manufactured.
b. Prepare an Income Statement.