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  1. business
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  3. consider the following account balances (in thousa

Consider the following account balances (in thousands) for the Peterson Company: (Click the...

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Question

Accounting

Consider the following account balances (in thousands) for the Peterson Company:
(Click the icon to view the account balances.)
Requirements
Prepare a schedule for the cost of goods manufactured for 2020.
Revenues for 2020 were $310 million. Prepare the income statement for 2020.
Ending work-in-process inventory, Dec. 31,2020
Cost of goods manufactured
Requirement 2. Revenues for 2020 were $310 million. Prepare the income statement for 2020.(Use parentheses or a minus sign for operating losses.)
Peterson Company
Income Statement
For the Year Ended December 31,2020(in thousands)
Cost of goods sold:
Cost of goods sold
Operating costs:
Total operating costs
L
(is
Operating income/(loss)
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