The following information pertains to the most recent quarter at Builders Production Limited. Purchases of raw materials $ 384,000 Raw materials inventory, beginning 46,400 Raw materials inventory, ending 76,000 Depreciation, factory 208,000 Insurance, factory 21,600 Direct labour 251,200 Maintenance, factory 126,400 Administrative expenses 292,800 Sales 2,184,000 Utilities, factory 116,000 Supplies, factory 4,160 Selling expenses 334,400 Indirect labour 271,200 Work in process inventory, beginning 28,800 Work in process inventory, ending 123,200 Finished goods inventory, beginning 42,400 Finished goods inventory, ending 169,600

Requirement 2: (15 Mks) 2. Prepare an income statement.