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 Factory utilities Work-in-process Inventory. Finished goods Inventory Information for the year: Administrative costs Direct labor Direct materials purchases- Factory and machine depreciation Factory supervision Indirect factory labor 88 114 1,700 $ 3,660 12,250 8,220 11,660 750 971 2,930 Indirect materials and supplies 677 Marketing costs. 1,510 Property taxes on factory 292 Sales revenue 45,700 Information on December 31 (Ending): Direct materials inventory $ 99 Work-in-process inventory 128 Finished goods inventory 1,470 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement.