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The following data (in thousands of dollars) have been taken from the accounting records of Larner...

The following data (in thousands of dollars) have been taken from the accounting records of Larner Corporation for the year just completed:  
  
Sales   $860
Purchase of raw materials   150
Direct labour   110
Manufacturing overhead   210
Administrative expenses   130
Selling expenses   180
Raw materials inventory, beginning   40
Raw materials inventory, ending   80
Work-in-process inventory, beginning   20
Work-in-process inventory, ending   80
Finished goods inventory, beginning   80
Finished goods inventory, ending   150

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

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