Obj. 4 PR 15-5B Statement of cost of goods manufactured and income statement for a manufacturing company 1. Cost of goods The following information is available for Shanika Company for 2016: manufactured, $367,510 Inventories January 1 December 31 Materials $ 77,350 $ 95,550 Work in process 109,200 96,200 SHOW ME HOW EXCEL TEMPLATE Finished goods 113.750 100,100 Advertising expense $ 68,250 Depreciation expense-office equipment 22,750 Depreciation expense--factory equipment 14,560 Direct labor 186,550 Heat, light, and power--factory 5,850 Indirect labor 23,660 Materials purchased 123,500 781 Chapter 15 Introduction to Managerial Accounting Inventories January 1 Office salaries expense Property taxes---factory Property taxes--headquarters building Rent expense--factory Sales Sales salaries expense Supplies---factory Miscellaneous costs---factory December 31 77,350 4,095 13,650 6,825 864,500 136,500 3.250 4420 Instructions 1. Prepare the 2016 statement of cost of goods manufactured. 2. Prepare the 20Y6 income statement