Consider the following account balances (in thousands) for the Canseco Canseco Company: LOADING... (Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2017. 2. Revenues for 2017 2017 were $ 300 $300 million. Prepare the income statement for 2017 2017. Requirement 1. Prepare a schedule for the cost of goods manufactured for 2017 2017. Begin by preparing the schedule of cost of goods manufactured (in thousands). Start with the direct materials and labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods manufactured. Canseco Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: Direct materials used Direct manufacturing labor Indirect manufacturing costs: Total indirect manufacturing costs Manufacturing costs incurred during 2017 Total manufacturing costs to account for Cost of goods manufactured Requirement 2. Revenues for 2017 2017 were $ 300 $300 million. Prepare the income statement for 2017 2017. (Use parentheses or a minus sign for operating losses.) Canseco Company Income Statement For the Year Ended December 31, 2017 (in thousands) Cost of goods sold: Cost of goods sold Operating costs: Total operating costs Operating income/(loss) Choose from any list or enter any number in the input fields and then continue to the next question. Data Table Beginning of End of Canseco Company 2017 2017 Direct materials inventory 22,000 23,000 Work-in-process inventory 29,000 26,000 Finished-goods inventory 18,000 28,000 Purchases of direct materials 79,000 Direct manufacturing labor 27,000 Indirect manufacturing labor 10,000 Plant insurance 8,000 Depreciationplant, building, and equipment 15,000 Repairs and maintenanceplant 3,000 Marketing, distribution, and customer-service costs 90,000 General and administrative costs 20,000 PrintDone