Required: Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. b. Determine the inventory balances at the end of the first month of operations. The folowing events took place for Sorensen Manufacturing Company during January. the frat month of its operations as a producer of digtal video moritors: a. Purchased $135.600 of materials. b. Used 594,840 of atrect itasarials in production c. Incurred 5163.840 of direct laber wages. d. Incurted 5211,760 of pastiony eyertead 6. Transtered 5427,460 of work in process to finished goods. t. Sold goods for 5666.009 . 9 Sold goods with a cost of $367,750. h. incurred 984,980 of selling expense. L. Incurted $70,500 of administrafive expense