1 Data Table Neal Company Beginning of 2017 23,000 24,000 10,000 Direct materials inventory Work-in-process inventory Finished-goods inventory Purchases of direct materials Direct manufacturing labor Indirect manufacturing labor Plant insurance End of 2017 25,000 21,000 22,000 76,000 20,000 17,000 6,000 16,000 3,000 90,000 27,000 Depreciation-plant, building, and equipment Repairs and maintenance-plant Marketing, distribution, and customer-service costs General and administrative costs Print Done Consider the following account balances in thousands) for the Neal Company (Click the icon to view the account balances.) Requirements 1. Prepare a schedule for the cost of goods manufactured for 2017. 2. Revenues for 2017 were $275 million. Prepare the income statement for 2017. Requirement 1. Prepare a schedule for the cost of goods manufactured for 2017 Begin by preparing the schedule of cost of goods manufactured in thousands). Start with the direct materials and labor costs, then indirect manufacturing costs, and complete the schedule by calculating cost of goods manufactured. Neal Company Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2017 (in thousands) Direct materials: Direct materials used Direct manufacturing labor Indirect manufacturing costs: Total indirect manufacturing costs Manufacturing costs incurred during 2017 Total manufacturing costs to account for Cost of goods manufactured Requirement 2. Revenues for 2017 were $275 million. Prepare the income statement for 2017. (Use parentheses or a minus sign for operating losses.) Neal Company Income Statement For the Year Ended December 31, 2017 (in thousands) Cost of goods sold: Cost of goods sold Operating costs: Total operating costs Onerating incomellloss) Choose from any list or enter any number in the input fields and then continue to the next