The following data (in thousands of dollars) have been taken from the accounting records of Cat Corporation for the year ended December 31st, 2020: Sales $1,600 Purchases of raw materials $350 Direct labour $150 Glue $30 Wages of factory security guard $50 Depreciation of equipment used in production $40 Administrative expenses $200 Marketing campaign for cat dishes $100 Sales commissions for sales team $70 Raw materials inventory, beginning $150 Raw materials inventory, ending $100 Work in process inventory, beginning $80 Work in process inventory, ending $50 Finished goods inventory, beginning $160 Finished goods inventory, ending $70 (a.) Prepare a formal schedule of cost of goods manufactured (i.e. in good form). (b.) Compute the cost of goods sold. (c.) Using data from your answers above as needed, prepare a traditional income statement in good form.