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 $ 81 Work-in-process inventory 116 Finished goods inventory 1,690 Information for the year: Administrative costs $ 3,670 Direct labor 12,550 Direct materials purchases 8,260 Factory and machine depreciation 11,530 Factory supervision 745 Factory utilities 973 Indirect factory labor 2,860 Indirect materials and supplies 676 Marketing costs 1,510 Property taxes on factory 297 Sales revenue 45,500 Information on December 31 (Ending): Direct materials inventory $ 95 Work-in-process inventory 144 Finished goods inventory 1,460 Required: a. Prepare a cost of goods sold statement. b. Prepare an income statement. Information on January 1 (Beginning): Direct materials inventory $ 81 Work-in-process inventory 116 Finished goods inventory 1,690 Information for the year: Administrative costs $ 3,670 Direct labor 12,550 Direct materials purchases 8,260 Factory and machine depreciation 11,530 Factory supervision 745 Factory utilities 973 Indirect factory labor 2,860 Indirect materials and supplies 676 Marketing costs 1,510 Property taxes on factory 297 Sales revenue 45,500 Information on December 31 (Ending): Direct materials inventory $ 95 Work-in-process inventory 144 Finished goods inventory 1,460.