End Beginning of 2014 of 2014 Shaler Corporation Direct materials inventory Work-in-process inventory Finished goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor 130,000 166,000 246,000 68,000 144,000 204,000 256,000 212,000 96,000 Indirect materials Plant insurance 28,000 4,000 42,000 24,000 Depreciation-plant (building and equipment) Plant utilities Repairs and maintenance-plant Depreciation - R&D equipment Marketing, distribution, and customer-service costs 16,000 64,000 124,000 General and administrative costs 68,000 Required: 1. Prepare a schedule for the cost of goods manufactured for 2014. 2. Revenues in thousands) for 2014 were $1,350,000. Prepare the income statement for 2014