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The following data were taken from the records of ClarksonCompany 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 Manager’s 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 GROSSPROFIT***************

Rs. 0. No. 02 The cost accountant of Faizan Manufacturing Co, has prepared the following summary: - Inventories at 1" Sep. 1990 Rs. Raw Material 40,000 Work in Process 12,000 Fuel 2,000 Factory Repair Parts 2,800 Finished Goods 14,000 70,800 Raw Material Purchases 58,000 Fuel Purchases 5.200 Direct Labour 83,100 Miscellaneous Factory Overhead 2,300 Repairs to Factory (Including purchase of parts) 4,200 Depreciation of plant 2,700 Superintendence 1,200 Transportation out 1,100 Purchases Discount Lost 800 Indirect Factory labour 2,000 231,400 Inventories at 30th Sep. 1990 Raw Material 36,000 Work in Process 15,000 Fuel 3,400 Factory Repair Parts 2,600 Finished Goods 12,000 69,000 162,400

Required: A statement showing Cost of Goods Sold in proper form.