PR 18-5B Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 20Y6 Inventories Materials Work in process Finished goods January 1 77,350 09,200 113,750 December 31 95,550 96,200 100,100 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 Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory 68,250 22,750 14,560 186,550 5,850 23,660 23,500 77,350 4,095 13,650 6,825 864,500 136,500 3,250 4,420 Instructions 1. Prepare the statement of cost of goods manufactured 2. Prepare the income statement