Assignment: The following information is available for the QRS Corporation for 2019: Inventories January 1 December 31 Materials $351,000 $436,800 Work in process 631,800 592,800 Finished goods 608,400 576,000 Advertising expense $296,400 Depreciation expense-office equipment 42,120 Depreciation expense-factory equipment 56,160 Direct labor 670,800 Heat, Light and Power-Factory 22,460 Indirect Labor 78,750 Materials purchased 659,800 Office salaries expense 185,000 Property taxes-factory 18,500 Property taxes-office building 32,400 Rent Expense-factory 32,000 Sales 3,010,000 Sales salaries expense 420,000 Supplies-factory Miscellaneous costs-factory Instructions: 15,400 9,500 1. Prepare the 2019 statement of cost of goods manufactured. 2. Prepare the 2019 income statement Assignment Due 11/22/20