Cost and sales information for Monarch Corporation for the month ending January 31, 2023 follows: (All amounts are in dollars ($)) Requirement 1: Prepare a cost of goods manufactured statement for January. (The company uses absorption costing.) Requirement 2: Prepare an income statement in good form for January. (Use Absorption Costing) Purchases of Raw Materials Raw Materials Inventory, Beginning Raw Materials Inventory, Ending Rent, Admin. Office Sales Selling Expenses Supplies, Factory Utilities, Factory Work in Process Inventory, Beginning Work In Process Inventory, Ending 12,000 4,000 6,000 3,000 175,000 8,000 1,000 4,000 30,000 10,000 Accounting Salaries Admin. Expenses Commissions Depreciation, Factory Depreciation, Other Direct Labour Finished Goods Inventory, Beginning Finished Goods Inventory, Ending Indirect Labour Insurance, Factory 6,000 12,000 4,500 3,000 2,000 65,000 125,000 120,000 12,000 5,000