Income statement and schedule of cost of goods manufactured.The Howell Corporation has the following account balances (in millions):

For Specific DateFor Year 2017Direct materials inventory, Jan. 1, 2017$15Purchases of direct materials$325Work-in-process inventory, Jan. 1, 201710Direct manufacturing labor100Finished goods inventory, Jan. 1, 201770Depreciationplant and equipment80Direct materials inventory, Dec. 31, 201720Plant supervisory salaries5Work-in-process inventory, Dec. 31, 20175Miscellaneous plant overhead35Finished goods inventory, Dec. 31, 201755Revenues950Marketing, distribution, and customer-service costs240Plant supplies used10Plant utilities30Indirect manufacturing labor60

Required

income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2017. (For additional questions regarding these facts, see the next problem.)