Jsing the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Round your answers to the nearest dollar. b. Determine the inventory balances at the end of the first month of operations. Round your answers to the nearest dollar. Financial statements of a manufacturing firm The following events took place for Serensen Mabulacturing company during January. the first month of its operations as a producer of dlgital wideo monitors: a. Purchased $220,000 of materials. b. Used $158,460 of direct matecials in production. c. Incurred $396,000 of direct labor wages. d. Incurred $158,400 of lectory overhead. e. Transferred $668,800 of wotk in process to finished gosths f. Sold goods for $1,056,000. 9. Sold goods with a cost of $594,000. h. Incurred $189,200 of selling expense. 1. Incurred $110,000 of administrative expense. This informaticn has been collected in the Microsoft Excet Online file. Open the spreadshnet, periorm the required anahsis, and input your arswers in the questions belew Open spreadshet Using the information giveh, complete the following: a. Prepare the Jaruary income statement for Sorensen Manufacturing Company. Poeund vour answers to the nearest dallar