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 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 $ 1,656 gee 1,220 835 12 14 3,640 493 67 54 922 687 876 903 12,874 28 je Required: 1. Prepare a cost of goods sold statement 2. Prepare an income statement BILLINGS TOOL & DIE Statement of Cost of Goods Sold For the Year Ended December 31 (5000) Manufacturing costs Direct materials Manufacturing overhead 0 Total manufacturing overhead Total manufacturing costs Total cost of work in process during the year Costs of goods manufactured during the year Cost of goods sold Income Strnt> COGS Stmt Income Stmt Prepare an income statement. (Enter your answers in thousands of dollars (1.e., 234,000 should be entered as 234).) BILLINGS TOOL & DIE Income Statement For the Year Ended December 31 (5000) Marketing and administrative costs: Total marketing and administrative costs 0