Question Completion Status: QUESTION 1 The following information is available for Shanika Company for 2018: December 31 Inventories January 1 $ 77.350 $ 95,550 Materials 109.200 96.200 Work in process 113,750 100.100 Finished goods Accounts December 31 balances $ 68.250 22.750 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor 14.560 186,550 5,850 Heat, light and power factory 23.600 Indirect labor 123.500 Materials purchased 77,350 Office salaries expense 4,095 Property taxes factory Property taxes headquarters building 13.690 lick. So af2pHxLL has to all Question compleco Advertising expens 68,250 22.750 Depreciation expense office equipment Depreciation expense-factory equipment 14.560 Direct labor 186,550 Heat, light, and power-factory 5.850 Indirect labor 23.600 123,500 77,350 Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory 4,095 13,650 6,825 Sales 864,500 Sales salaries expense 136,500 3.250 Supplies-factory Miscellaneous costs.factory 4.240 Required: 1. Prepare the Statement of Cost of Goods Manufactured for 2018 Prepare the income Statement for 2018