eBook Show Me How Print Item Financial Statements of a Manufacturing Firm The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: a. Purchased $40,200 of materials. b. Used $31,000 of direct materials in production. c. Incurred $46,200 of direct labor wages. d. Incurred $65,100 of factory overhead. e. Transferred $108,100 of work in process to finished goods. f. Sold goods for $193,400. g. Sold goods with a cost of $86,000. h. Incurred $49,400 of selling expense. 1. Incurred $21,700 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses: Check My Work 4 more Check My Work uses remaining. Email Instructor Save and Exit Next> Submit Assignment for Grading