Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars). Information on January 1 (Beginning): Direct materials inventory Work-in-process inventory Finished goods inventory Information for the year: Administrative costs Direct materials purchases Direct labor Factory and machine depreciation Factory supervision $ 84 112 1,690 $ 3,700 12,550 8,280 11,680 769 Factory utilities 941 Indirect factory labor 2,920 Indirect materials and supplies 688 Marketing costs 1,500 Property taxes on factory 275 Sales revenue 45,800 Information on December 31 (Ending): Direct materials inventory $ 97 Work-in-process inventory 141 Finished goods inventory 1,480 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an Income statement. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare a cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).) Manufacturing costs: Direct materials: Manufacturing overhead: YOLO WINDOWS Statement of Cost of Goods Sold For the Year Ended December 31 Total manufacturing overhead Total manufacturing costs Total cost of work in process during the year Costs of goods manufactured during the year Cost of goods sold ($000) 0 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an Income statement. Complete this question by entering your answers in the tabs below. COGS Stmt Income Stmt Prepare an income statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).) YOLO WINDOWS Income Statement For the Year Ended December 31 ($000) Total marketing and administrative costs 0