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:	1/1/00		12/31/00
Direct materials	$	62	$	69
Work-in-process		90		82
Finished goods		1,001		1,027

Other information:	For the year 00
Administrative costs	$	3,500
Depreciation (Factory)		3,480
Depreciation (Machines)		4,760
Direct labor		7,900
Direct materials purchased		5,290
Indirect labor (Factory)		1,810
Indirect materials (Factory)		620
Property taxes (Factory)		255
Selling costs		1,210
Sales revenue		37,110
Utilities (Factory)		670

Required:

1. Prepare a cost of goods sold statement.

2. Prepare an income statement.

MOST OF THE INFORMATION IS CORRECT, HOWEVER THERE IS SOMETHING MISSING/INOCORRECT AS IT KEEPS GIVING ME AN ERROR WHEN TRYING TO SUBMIT. PLEASE HELP.

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. Prepare a cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).) 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. Prepare an income statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)