East Ferry Tool & Die, a manufacturer of parts for agricultural equipment, provides the following financial information for the most recent fiscal year (all costs are in thousands of dollars):

	($000)
Inventories:
As of January 1:
Direct materials	$ 87
Work-in-process	96
Finished goods	664
As of December 31:
Direct materials	$ 94
Work-in-process	89
Finished goods	683
Other amounts (for the year):
Administrative costs	1,940
Direct labor	3,946
Direct material purchases	5,074
Indirect plant labor	1,958
Indirect plant supplies	692
Machine depreciation	4,351
Marketing costs	1,024
Plant depreciation	1,275
Plant supervision	996
Plant utilities	673
Property taxes on plant and equipment	321
Sales revenue	24,234

Required:

Prepare a cost of goods sold statement.

Prepare an income statement.