Data table Alderman Company Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Beginning of End of 2020 2020 26,000 29,000 22,000 20,000 12,000 25,000 73,000 Direct manufacturing labor 21,000 Indirect manufacturing labor 14,000 Plant insurance 9,000 Depreciation-plant, building, and equipment 13,000 Repairs and maintenanceplant 5,000 Marketing, distribution, and customer-service costs 99,000 General and administrative costs 23,000 - Requirement 1. Prepare a schedule for the cost of goods manufactured for 2020. 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. Alderman Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2020 (in thousands) Direct materials: Direct materials used Direct manufacturing labor Indirect manufacturing costs: Total indirect manufacturing costs Manufacturing costs incurred during 2020 Total manufacturing costs to account for Cost of goods manufactured Requirement 2. Revenues for 2020 were $275 million. Prepare the income statement for 2020. (Use parentheses or a minus sign for operating losses.) Alderman Company Income Statement For the Year Ended December 31, 2020 (in thousands) Cost of goods sold: Cost of goods sold Operating costs: Total operating costs Operating income/(loss)