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 80 118 1,690 $ 3,610 12,550 8,280 11,720 Factory supervision 745 Factory utilities 946 Indirect factory labor 2,880 Indirect materials and supplies 677 Marketing costs 1,470 Property taxes on factory 280 Sales revenue 46,000 Information on December 31 (Ending): Direct materials inventory $ 92 Work-in-process inventory 127 Finished goods inventory 1,460 Required: 1. Prepare a cost of goods sold statement. 2. Prepare an income statement. 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 Stmt Prepare a cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).) Manufacturing costs: Direct materials: Manufacturing overhead: YOLO WINDOWS Statement of Cost of Goods Sold For the Year Ended December 31 ($000) Total manufacturing overhead Total manufacturing costs Total cost of work in process during the year Costs of goods manufactured during the year Cost of goods sold COGS Stmt Income Stmt Prepare an income statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).) YOLO WINDOWS Income Statement For the Year Ended December 31 ($000) Total marketing and administrative costs