The following data are for Mark Department Store. The account balances (in thousands) are for 2017 Chak the icon to www the account balances) Requirements 1. Compute(a) the cost of goods purchased and (b) the cost of goods sold Prepare the income statement for 2017 2 Requirement 1. Compute (a) the code of goods purchased and (b) the cost of goods sold (a) Calculate the cost of goods purchased by completing the schedade ( a bax is not used in the schedule, teave the box emply do not select a label or enter a zero ) Mark Department Store Schedule of Cont of Goods Purchased Data Table For the Year Ended December 31, 2017 in thousands) N Deduct Marketing, distribution, and customer service costs Merchandise inventory, January 1, 2017 Utilities General and administrative costs Merchandise Inventory, December 31, 2017 Purchases Miscellaneous costs Transportation in Purchase returns and allowances Purchase discounts Revenues Cost of goods purchased $ 30,000 24 000 18.000 18.000 35,000 155.000 5.000 8,000 3.000 9,000 315 000 Print Done