The Howell Corporation has the following account balances (in millions):

Prepare an income statement and a supporting schedule of cost of goods manufactured for the year ended December 31, 2017. (For additional questions regarding these facts, see the next problem.)

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For Specific Date Direct materials inventory, Jan. 1, 2017 Work-in-process inventory, Jan. 1, 2017 Finished goods inventory, Jan. 1, 2017 Direct materials inventory, Dec. 31, 2017 Work-in-process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 $15 For Year 2017 Purchases of direct materials $325 10 Direct manufacturing labor 100 70 Depreciation-plant and equipment 80 20 Plant supervisory salaries 5 5 Miscellaneous plant overhead 35 55 Revenues 950 Marketing, distribution, and 240 customer-service costs Plant supplies used Plant utilities Indirect manufacturing labor 10 30 60