2 The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a 3 producer of digital video monitors: 4 5 DATA Materials purchased $236.000 Direct materials used in production 169.920 8 Direct labor wages 424,800 9 Factory overhead 169,900 10 Work in process transferred to finished goods 717,400 11 Sales revenue 1.132.800 12 Cost of goods sold 637 200 13 Selling expense 203.000 14 Administrative expense 118,000 15 Select the corresponding accounts in the dropdowns in cells B21B23, B25:B26, B28. Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the C and D columns Transfer the numeric 16 results for the green entry cells (D21 023, C25 C26, 027 D28 C31C33) into the appropriate fields in CNOWV2 for grading 17 18 Sorensen Manufacturing Company 19 Income Statement 20 For the Month Ended January 31 Formulas 21 22 23 24 Operating expenses 25 26 27 Total operating expenses 28 29 30 Inventory balances on January 31: 31 b Materials 32 Work in process 33 Finished goods 34 35 a