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Consider the following account balances (in thousands) for the Smith Company Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017. 2. Revenues for 2017 were $310 million. Prepare the income statement for 2017. Click the icon to view the account balances.) Data Table Beginning of End of Smith Company 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 equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs 2017 2017 24,000 21,000 27,000 73,000 29,000 16,000 7,000 14,000 2,000 92,000 22,000 23,000 15,000 Smith Company 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 equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs 2017 2017 24,000 21,000 27,000 73,000 29,000 16,000 7,000 14,000 2,000 92,000 36,000 22,000 23,000 15,000