Alwar Brothers is a small, family-owned business that produces animal feed for dairy farms. The administrative offices and manufacturing plant of Alwar share the same building. Financial records provided by the company for the most recent fiscal year show the following (all amounts in thousands of dollars):

Required

Prepare an income statement with a supporting cost of goods sold statement. 

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1 2 Sales revenue A 3 Direct materials purchases 4 Administrative costs 5 Utilities (Note A) 6 Indirect factory labor 7 Marketing costs 8 Direct labor 9 Depreciation (Note B) 10 Property taxes (Note C) 11 Factory supplies 12 Factory supervision 13 Finished goods inventory, December 31 14 Finished goods inventory, January 1 15 Work-in-process inventory, January 1 16 Work-in-process inventory, December 31 17 Direct materials inventory, December 31 18 Direct materials inventory, January 1 19 20 21 Notes: 22 A. 80% of this amount is for the factory. 23 B. 85% of this amount is for the factory. 24 C. 60% of this amount is for the factory. 25 26 B ($000) $7,985.0 2,058.0 976.0 810.0 566.0 532.0 511.0 480.0 470.0 415.0 311.0 46.0 41.0 16.1 14.2 13.1 10.2 С