In excel format, answer Problem 5-1:

Problem 5-]1 The cost accounting system for Ontario Manufacturing, Inc. gathers the following cost data for 2010 (dollar amounts in thousands) Raw materials inventory (All raw materials are direct materials) Beginning inventory Purchases of raw materials Ending inventory $14 121 Work in process inventory Beginning work in process Ending work in process 25 Finished goods inventory Beginning finished goods Ending finished goods 36 Other data Direct labor costs Factory overhead costs Sales revenues Selling. general, and administrative exper Accounts receivable Accounts payable Income tax rate Number of shares of stock (in thousands) 155 62 600 184 72 41 20 Required. a. Construct Ontario's cost of goods manufactured statement b. Present the firm's income statement in proper form c. Disclose inventory on the December 31, 2010 balance sheet