Prepare rhe 20Y6 statement of cost of goods manufactured and the 20Y6 income statement.

Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $ 272,160 $342,920 Work in process 489,890 466,370 Finished goods 470,840 476,660 $232,840 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment 32,920 44,240 Direct labor 528,100 17,490 61,730 517,810 Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory 180,720 14,400 29,830 24,350 Sales 2,424,440 Sales salaries expense 297,650 12,000 Supplies-factory Miscellaneous costs-factory 7,540