Instructions: Please prepare the Cost of Goods Manufacturing Schedule and Income Statement for the project below. Your answers must be in Excel Spreadsheet format and should be submitted Consider the following account balances (in thousands) for the Ramos Company: The Ramos Compan 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 Repairs and maintenance plant Marketing, distribution, and customer-service costs General and administrative costs End of Beginning of 2019 2019 43,000 30,000 21,000 23,000 15,000 21,000 71,000 18,000 18,000 9,000 11,000 3,000 82,000 20,000 Required: 1. Prepare a schedule for the cost of goods manufactured for 2019. 2. Revenues for 2019 were $175 million. Prepare the income statement for 2019