The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017.

Raw Materials Inventory 7/1/16 $51,100

Factory Insurance $4,700

Raw Materials Inventory 6/30/17 46,000

Factory Machinery Depreciation 19,000

Finished Goods Inventory 7/1/16 98,200

Factory Utilities 29,100

Finished Goods Inventory 6/30/17 26,100

Office Utilities Expense 9,350

Work in Process Inventory 7/1/16 26,800

Sales Revenue 564,000

Work in Process Inventory 6/30/17 22,300

Sales Discounts 4,700

Direct Labor 147,750

Plant Managers Salary 65,600

Indirect Labor 26,560

Factory Property Taxes 9,810

Accounts Receivable 27,100

Factory Repairs 1,600

Raw Materials Purchases 97,500

Cash 35,600

************PREPARE AN INCOME STATEMENT THROUGH GROSS PROFIT***************