< 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 $182,090 $227,610 Work in process Finished goods Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment 327,760 309,550 315,020 316,380 $154,550 21,850 29,360 Direct labor Heat, light, and power-factory Indirect labor Materials purchased 350,520 11,610 40,970 343,690 Office salaries expense 119,950 Property taxes-factory 9,560 Property taxes-headquarters building 19,800 Rent expense-factory 16,160 Sales 1,609,200 Sales salaries expense 197,570 Supplies-factory 7,970