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 labor Direct materials purchases Factory and machine depreciation. Factory supervision Factory utilities Indirect factory labor i 87 111 1,700 $ 3,690 12,250 8,260 11,750 746 945 2,890 Indirect materials and supplies 6811 Marketing costs 1,480 Property taxes on factory Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory 288 45,600 95 130 Finished goods inventory 1,440 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement.