The following data are for Marvin Department Store. The account balances (in thousands) are for 2019. Marketing, distribution, and customer-service costs $ 37,000 Merchandise inventory, January 1, 2019 27,000 Utilities 17,000 General and administrative costs 43,000 Merchandise inventory, December 31, 2019 34,000 Purchases 155,000 Miscellaneous costs 4,000 Transportation-in 7,000 Purchase returns and allowances 4,000 Purchase discounts 6,000 Revenues 280,000 Required: (2+2+3 = 7 points) i. Compute (a) the cost of goods purchased and (b) the cost of goods sold. ii. Prepare the income statement for 2019