The following information is taken from the records of Palliser Manufacturing Ltd.:

	Jan. 1, 2021	Dec. 31, 2021
Finished Goods Work in Process Materials, Control Accounts Receivable Accounts Payable	$110,000 70,000 90,000 65,000 44,000	$ 95,000 80,000 95,000 72,000 37,000

	For the Year
Revenues Indirect Manufacturing labour Direct Materials Purchased Plant Insurance Amortization - Plant Building and Equipment Direct Manufacturing Labour Repairs and Maintenance - Plant Miscellaneous Plant Overhead General and Administrative Costs Marketing, Distribution, and Customer Service Costs	$ 800,000 24,000 198,000 18,000 48,000 224,000 60,000 41,000 66,000 82,000

REQUIRED:

1. Prepare a schedule of costs of goods manufactured (or a schedule of costs of goods manufactured and sold) in proper format for 2021.

2. Prepare an income statement for 2021.