4) Below is information from ABC Company for 2017: Inventories January 1 December 31 Materials $274,000 $387,000 Work in Process 560,000 520,000 Finished Goods 462,000 428,000 Advertising expense 145,000 Depreciation expense office equipment 34,000 Depreciation expense factory equipment 48,000 Direct labor 700,000 Utilities factory 30,000 Indirect labor 90,000 Materials purchased 710,000 Office salaries expense 220,000 Property taxes factory 24,000 Property taxes headquarter building 18,000 Rent expense factory 60,000 Sales 4,500,000 Sales salaries expense 380,000 Supplies factory 14,000 Misc. costs factory 7,000 Instructions: Prepare the costs of goods manufactured statement for 2017