Your finance department provides you with the following data:

Rent (manufacturing building)	$25,000
Hydro costs (manufacturing)	$77,000
Supplies (manufacturing)	$19,000
Insurance (office building)	$7,000
Indirect labour	$110,000
Direct labour cost	$65,000
Raw material purchases	$399,000
Online advertising	$30,000
Commissions to sales people	$70,000
Equipment depreciation (manufacturing)	$80,000
Depreciation (office building)	$55,000
Inventories	Beginning of year	End of year
Raw materials	$65,000	45000
Work in progress	$99,000	62000
Finished goods	$205,000	70000

Prepare a schedule of cost of goods manufactured. (3) Prepare the cost of good sold section of the income statement. (2)