The administrative offices and manufacturing plant of Billings Tool & Die share the same building The following information (in $000s) appears in the accounting records for last year $ 1,653 900 1,260 1 3,65 49 Administrative costs Building and machine depreciation (75% of this amount is for factory) Building utilities (sex of this anount is for factory) Direct labor Direct materials Inventory, December 31 Direct materials inventory, January 1 Direct materials purchases Factory supervision Finished goods Inventory, December 31 Finished goods Inventory, January 1 Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on building (65% of this amount is for factory) Sales revenue Work in process inventory, December 31 Workinprocess inventory. January 1 55 90 675 364 900 13 26 20 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. PM SB NU The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The following information in SC appears in the accounting records for last year. Administrative costs Building and machine depreciation (75% of this amount is for factory) Building utilities (90% of this amount is for factory) Direct labor Direct materials inventory, December 31 Direct materials inventory, January 1 Direct materials purchases Factory supervision Finished goods inventory, December 31 Finished goods inventory, January 1 Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on building (85% of this amount is for factory) Sales revenue Work-in-process inventory, December 31 Work-in-process inventory, January 1 1,653 900 1,260 845 15 12 3,65e 492 60 55 903 675 864 900 13,008 26 28 Required: 1. Prepare a cost of goods sold statement 2. Prepare an income statement