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 89 116 1,660 $ 3,640 12,450 Direct materials purchases, 8,220 11,720 Factory supervision 737 Factory utilities 958 Indirect factory labor 2,920 Indirect materials and supplies 695 Marketing costs. 1,530 Property taxes on factory 278 Sales revenue 45,600 Information on December 31 (Ending): Direct materials inventory $ 99 Work-in-process inventory 145 Finished goods inventory 1,470 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.