now.com/ilm/take Assignment/take AssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=fals ent eBook Show Me How Calculator Print Item Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 2016: Inventories January 1 December 31 Materials $77,350 $95,550 Work in process 109,200 96,200 Finished goods 113,750 100,100 $68,250 22,750 14,560 186,550 5,850 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-headquarters building Rent expense-factory 23,660 123.500 77,350 4,095 13,650 6,825 864,500 Sales Sales salaries expense 136,500 O i - E 1) enow.com/ilm/takeAssignment/takeAssignment Main.do?invoker=&takeAssignment ment eBook Show Me How Calculator Print Item Sales salaries expense 136,500 3,250 Supplies-factory Miscellaneous costs-factory Required: 4,420 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 2016 Direct materials: Materials inventory, January 1, 2016 Factory overhead: 11 3 nt Print Item eBook Calculator Show Me How Factory overhead: o Total factory overhead Total manufacturing costs incurred in 2016 Total manufacturing costs 2. Prepare the 20Y6 Income statement. RI 8 ssignment eBook Show Me How Calculator Print Item 2. Prepare the 2016 income statement. Shanika Company Income Statement For the Year Ended December 31, 2016 Cost of good sold: ni ou Operating expenses: Administrative expenses: Selling expenses: search 00 gnment eBook Show Me How Calculator Print Item For the Year Ended December 31, 2016 Cost of good sold: Operating expenses: Administrative expenses: Selling expenses Total operating expenses I) arch ORI 1 ))