3) Consider the following account balances in thousands for the Yankee Company for the year ended December 31, 2018 Direct Materials Inventory, Beginning Direct Material Inventory, Ending Work in Process, Beginning Work in Process, Ending Finished Goods Inventory, Beginning Finished Goods Inventory, Ending Direct Materials, Purchased Direct Labor Indirect Labor 48,000 21,000 38,000 16,000 29,000 12,000 99,000 34,000 14,000 19,000 18,000 65,000 15,000 10,000 38,000 75,000 18,000 38,000 Plant insurance Other insurance Salaries Nonproduction Depreciation plant Depreciation other Repairs & Maintenance - plant Marketing & Customer support Plant rent General & Admin Required: Prepare a statement of cost of goods manufactured and an income statement for the year ended December 31, 2018, please note sales were $315,000,000