Yolo Windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars) 5 87 115 1,650 ak Information on January 1 (Beginning): Direct materials inventory work-in-process inventory Finished goods inventory Information for the year! Administrative costs Direct labor Direct materials purchases Factory and machine depreciation Factory supervision Factory utilities Indirect factory labor Indirect materials and supplies Marketing costs Property taxes on factory Sales revenue Information on December 31 (Ending) Direct materials Inventory Work in process Inventory Finished goods inventory $ 3,670 12,700 8,270 11,550 759 969 2.880 679 1,540 271 45,500 5 $ 94 139 1,440 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 Stumt 234). $ 1151 YOLO WINDOWS Statement of Cost of Goods Sold For the Year Ended December 31 (5000) Beginning work-in-process, Jan. 1 Manufacturing costs Direct materials: Beginning inventory, Jan 1 $ 871 Add: Material purchases 8.270 Direct materials available Less Ending inventory, Dec. 31 94 Direct materials used Direct labor Manufacturing overhead: Factory and machine depreciation 11,550 Factory supervision 759 Factory utilities 969 Indirect factory labor 2.880 Indirect materials and supplies 679 Property taxes on factory 271 12,700 17,108 Total manufacturing overhead Total manufacturing costs Total cost of work in process during the year Less: Ending work in process, Dec. 31 Costs of goods manufactured during the year Beginning finished goods, Jan. 1 Ending finished goods. Dec. 31 Cost of goods sold