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 Factory and machine depreciation 81 113 1,690 $ 3,630 12,050 8,270 Direct materials purchases 11,670 Factory supervision 774 Factory utilities 966 Indirect factory labor 2,920 Indirect materials and supplies 676 Marketing costs 1,550 Property taxes on factory 274 Sales revenue Information on December 31 (Ending): Direct materials inventory Work-in-process inventory 45,600 95 126 Finished goods inventory 1,480 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement.