Consider the following account balances (in thousands) for the Sillow Corporation: "(Click the icon to view the account balances) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017 2. Revenues (in thousands) for 2017 were $1.200,000 Prepare the income statement for 2017 Requirement 1. Prepare a schedule for the cost of goods manufactured for 2017 Start with the direct materials and labor costs, then manufacturing overhead costs, and complete the schedule by calculating cost of goods manufactured Sillow Corporation Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: (2) Direct materials used Direct manufacturing labor Manufacturing overhead costs: (9) |(10) Total manufacturing overhead costs Manufacturing costs incurred during 2017 |(11) Total manufacturing costs to account for (12) Cost of goods manufactured Requirement 2. Revenues in thousands) for 2017 were $1,200,000. Prepare the income statement for 2017. (Use a minus sign or parentheses for an operating loss.) Sillow Corporation Income Statement For the Year Ended December 31, 2017 (in thousand (13) Cost of goods sold (14) (15) (16) (17) Cost of goods sold Operating costs: (19) (20) Total operating costs Operating income (loss) 1: Data Table End of Beginning of 2017 132,000 $ 168.000 230,000 Sillow 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 equipment Plant utilities Repairs and maintenance plant Equipment leasing costs Marketing, distribution, and customer-service costs General and administrative costs 2017 69,000 142,000 204,000 265,000 215,000 103,000 2,000 43,000 23,000 11,000 62,000 129,000 66,000