Question 2. Income statement and cost of goods manufactured. t t t t t The Bowser's Flamethrowers Ltd. has the following accounting data (in thousands):+ Balances Beginning WIP, 1 Jan 2018- 8 000- Ending WIP, 31 December 2018- 15 000- Beginning finished goods inventory, 1 Jan 2018 75 000- Finished goods inventory at the end of the year, 31 December 2018- 69 000- Beginning Direct Materials Inventory 19 000- Ending Direct Materials Inventory 27 000- For the year- Sales- 909 000- Depreciation on equipment- 89 000- Direct materials purchases 317 000- Direct Labor 101 000- Indirect Labor- 16 000- General and Administrative costs- 239 000- Used plant supplies 19 000- Miscellaneous plant overhead 35 960- Plant supervisory salaries 7 500- Plant utilities: 32 000- * Required: (1) (ii) Compute cost of goods manufactured + Using the figure above, prepare an Income Statement for the year ended 31 December 2018