Alwar Brothers is a small, family$-$owned business that produces animal feed for dairy farms. The administrative offices and

manufacturing plant of Alwar share the same building. Financial records provided by the company for the most recent fiscal year show

the following $($all amounts in thousands of dollars$)$:

Notes:

A$.80\%$ of this amount is for the factory.

B$.85\%$ of this amount is for the factory.

C$.60\%$ of this amount is for the factory.

Required:

a$.$ Prepare a cost of goods sold statement.

b$.$ Prepare an income statement. $\backslash$table$[[$Statement of Cost of Goods Sold$],[$For the Year Ended December $31],[($$$000)],[$Beginning work$-$in$-$process, January $1,,,$$$16\mathrm{.}1>],[$Manufacturing costs:$],[$Direct materials:$],[$Direct materials used $*,10\mathrm{.}2>,,],[$Add: Purchases $(,2,058\mathrm{.}0\backslash$times $,,],[$Direct materials available $(,2,068\mathrm{.}2\backslash$times $,,],[$Less: Ending inventory, December $31,13\mathrm{.}1>,,],[$Direct materials used,,$2,055\mathrm{.}1\backslash$times $,],[$Direct labor $>,,511\mathrm{.}0\backslash$times $,],[$Manufacturing overhead:$],[$Utilities$,648\mathrm{.}0\backslash$times $,,],[$Depreciation $>,408\mathrm{.}0\backslash$times $,,],[$Property taxes,$282\mathrm{.}0\backslash$times $,,],[$Indirect factory labor,$566\mathrm{.}0\backslash$times $,,],[$Factory supplies,$415\mathrm{.}0\backslash$times $,,],[$Factory supervision,$311\mathrm{.}0\backslash$times $,,],[,,,],[,,,],[$Total manufacturing overhead,,$2,630\mathrm{.}0,],[$Total manufacturing costs,,,$5,196\mathrm{.}1\backslash$times $],[$Total cost of work in process during the year,,,$5,212\mathrm{.}2\backslash$times $]]\backslash$table$[[$Less: Work in process, December $31,,,14\mathrm{.}2],[$Costs of goods manufactured during the year,,,$5,198\mathrm{.}0\backslash$times $],[$Beginning finished goods, January $1,,,41\mathrm{.}0\backslash$times $],[$Finished goods available for sale,,,$5,239\mathrm{.}0\backslash$times $],[$Less: Ending finished goods, December $31,,,46\mathrm{.}0\backslash$times $],[$Cost of goods sold,,,$5,193\mathrm{.}0\backslash$times $]]$