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. Administrative costs Building and machine depreciation (75% of this at 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 Enter your search term $ 1,662 800 1,240 855 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 11 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement 12 11 3,630 482 68 51 920 679 863 800 12,998 26 33