Westlake, Inc. produces metal fittings for the aerospace industry. The administrative and manufacturing operations occupy the same 200,000 square foot building. The manufacturing plant uses 150,000 square feet. Depreciation is assigned based on building use. Indirect labor represents 15 percent of the total manufacturing plant labor. The financial information for the year just ended is shown as follows. (Thousands of dollars) Administrative costs Total building depreciation Direct materials inventory, January 1 Direct materials inventory, December 31 Direct materials purchased during the year Finished goods inventory, December 31 Indirect labor Maintenance on plant machinery Marketing costs Operating profit Other plant overhead Plant supervision and administration Plant supplies and indirect materials. Sales revenue Taxes on manufacturing property Work-in-process inventory, January 1 Work-in-process inventory, December 31 $ 230 540 22 27 1,577 87 222 147 127 754 90 162 74 5,700 124 87 117 Required: 1. Prepare a cost of goods manufactured and sold statement. 2. Prepare an income statement. Complete this question by entering your answers in the tabs below.