2-38Cost of goods manufactured, income statement, manufacturing company. Consider the following account balances (in thousands) for the Carolina Corporatiorn Carolina Corporation Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance Depreciation plant, building, and Beginning of End of 2017 73,000 173,000 45,000 240,000 206,000 262,000 217,000 97,000 9,000 45,000 2017 124,000 equipment Plant utilities Repairs and maintenance -plant Equipment leasing costs Marketing, distribution, and customer- 26,000 12,000 65,000 125,000 service costs General and administrative costs 71,000 Required 1.Prepare a schedule for the cost of goods manufactured for 2017. 2.Revenues (in thousands) for 2017 were $1,300,000. Prepare the income statement for 2017