Information from the records of the Shawnee Production Company for the month of January is as follows:

Purchases of direct materials	$	18,000
Indirect labor		5,000
Direct labor		10,400
Depreciation on factory machinery		3,000
Sales		55,300
Selling and administrative expenses		6,300
Rent on factory building		7,000

Inventories	January 1			January 31
Direct materials	$	8,000		$	8,700
Work-in-process		2,100			3,200
Finished goods		5,000			5,700

Required: a. Prepare a statement of cost of goods manufactured for the month of January. b. Prepare an income statement for the month of January.