Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Compa The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $247,890 $304,900 Work in process 446,200 414,660 Finished goods 428,850 423,810 Advertising expense Depreciation expense-office equipment $207,030 29,270 Depreciation expense-factory equipment 39,33 Direct labor 469,55 Heat, light, and power-factory 15,550 Indirect labor 54,880 Materials purchased 460,400 Office salaries expense 160,680 Property taxes-factory 12,810 Property taxes-headquarters building 26,530 Rent expense-factory 21,650 Sales 2,155,640 Sales salaries expense 264,650 Supplies-factory 10,670 Miscellaneous costs-factory 6,710 Required: