Instructions The following information is available for Lagakos Corporation for 2048: January 1 $77,600 Inventories Materials Work in process Finished goods December 31 593,800 96,700 109.900 109,000 112,000 December 31 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-office building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory $69.000 23,000 14,000 188,700 5.900 24,860 123.200 75,800 4,005 12,600 6.375 862.000 135,000 3.500 4.820 Required: 1. Prepare the statement of cost of goods manufactured 2. Prepare the income statement "Be sure to complete the statement heading. Refer to the Labels and Amount Descriptions dist provided for the exact wording of the answer choices for text entries. "Less" or "Plus" will automatically appear if it is required Enter all amounts as positive numbers