Question 5 (of 10) value: 200 points Exercise 18-13 Income statement preparation LO P2 Following are the selected account balances of Shanta Company: Sales 1,250,000 Raw materials inventory, Dec. 31, 2012 37,000 Goods in process inventory, Dec. 31, 2012 53,900 Finished goods inventory, Dec. 31, 2012 62,750 Raw materials purchases 175,600 Direct labor 225,000 Factory computer supplies used 17,840 Indirect labor 47,000 Repairs- Factory equipment 5,250 Rent cost of factory building 57,000 Advertising expense 94,000 General and administrative expenses 129,300 Raw materials inventory, Dec. 31, 2013 42,700 Goods in process inventory, Dec. 31, 2013 41,500 Finished goods inventory, Dec. 31, 2013 67,300 Prepare an income statement for Shanta Company (a manufacturer). Assume that it manufactured is $534,390