Inventories January 1 December 31 $260,230 $325,290 Materials Work in process Finished goods 468,410 442,390 450,200 452,150 $220,870 31,230 41,960 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor 500,950 16,590 58,550 491,190 Materials purchased Office salaries expense 171,430 13,660 Property taxes-factory Property taxes-headquarters building Rent expense-factory 28,300 23,100 Sales 2,299,800 Sales salaries expense 282,350 11,390 Supplies-factory Miscellaneous costs-factory 7,160 Required: Statement of Cost of Goods Manufactured For the Year Ended December 31, 2016 Direct materials: $ $ Factory overhead: buni Total factory overhead Total manufacturing costs incurred 00 Total manufacturing costs Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of goods sold: QODI I. Operating expenses: Administrative expenses: $ Selling expenses: $ Total operating expenses