Financial Statements of a Manufacturing Firm The following events took place for Technology Treasures Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: a. Purchased $142,900 of materials. b. Used $126,600 of direct materials in production. c. Incurred $305,300 of direct labor wages. d. Incurred $101,800 of factory overhead. e. Transferred $508,800 of work in process to finished goods. f. Sold goods for $742,000. g. Sold goods with a cost of $445,200. h. Incurred $106,000 of selling expense. 1. Incurred $67,800 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Technology Treasures Manufacturing Company. Technology Treasures Manufacturing Company Income Statement For the Month Ended January 31 Administrative expenses x Operating expenses: