Mesa Designs produces a variety of hardware products, primarily for the do-it-yourself (DIY) market. As part of your job interview as a summer intern at Mesa, the cost accountant provides you with the following (fictitious) data for the year in $000). Inventory information: Direct materials Work-in-process Finished goods 1/1/00 $ 68 96 1,087 12/31/00 $ 75 88 1,033 Other information: Administrative costs Depreciation (Factory) Depreciation (Machines) Direct labor Direct materials purchased Indirect labor (Factory) Indirect materials (Factory) Property taxes (Factory) Selling costs Sales revenue Utilities (Factory) For the year 100 $ 4,100 3,780 4,820 8,500 5,350 1,870 680 285 1,270 40, 110 730 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare an income statement. (Enter your answers in thousands of dollars (, 234,000 should be entered as 234) MESA DESIGNS Income Statement MESA DESIGNS Statement of Cost of Goods Sold For the Year Ended December 31 (5000) $ 68 $ 5,350 5,418 75 $ Manufacturing costs: Direct materials: Beginning inventory, Jan. 1 Add: Material purchases Direct materials available Less: Ending Inventory, Dec. 31 Direct materials used Direct labor Manufacturing overhead: Depreciation (factory) Depreciation (machines) Indirect labor (factory) Indirect materials (factory) Property taxes on factory Utilities (factory) 5,343 8,500 $ 3.780 4,820 1,870 680 285 730 12,165 Total manufacturing overhead Total manufacturing costs Total cost of work-in-process during the year Less: Ending work-in-process, Dec. 31 Costs of goods manufactured during the year $ 26,00B 26,104 88 26,016 $ Prepare an income statement. (Enter your answers in thousands of dollars (i.e., 234,00 MESA DESIGNS Income Statement For the Year Ended December 31 (5000) $ $ Sales revenue Less: Cost of goods sold Gross margin Administrative costs Selling costs 40,110 12,147 27,963 $ 4,100 1,270 5,370 Total selling and administrative costs Operating profit COGS Stmt Income Stumt