Problem 2-62 (Algo) Prepare Statements for a Manufacturing Company (LO 2-2, 4) 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 $ 50 78 989 12/31/00 $ 57 70 1,015 Other information: Administrative costs Depreciation (Factory) Depreciation (Machines) Direct labor For the year '00 $ 2,300 2,880 4,640 6,700 Direct materials purchased 5,170 Indirect labor (Factory) 1,690 Indirect materials (Factory) 500 Property taxes (Factory) 195 Selling costs 1,090 Sales revenue 31,110 Utilities (Factory) 550 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.