Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: Inventories Materials January 1 December 31 $249,110 $313,880 Work in process 448,400 426,880 Finished goods 430,960 436,290 Advertising expense $213,120 Depreciation expense-office equipment 30,130 Depreciation expense-factory equipment 40,490 Direct labor 483,380 Heat, light, and power-factory 16,010 Indirect labor 56,500 Materials purchased 473,960 Office salaries expense 165,410 Property taxes-factory 13,180 Property taxes-headquarters building 27,310 Rent expense-factory 22,290 Sales 2,219,130 Sales salaries expense 272,450 Supplies-factory Miscellaneous costs-factory 10,990 6,910