Statement of Cost of Goods Manufactured and Income Statement for a Manufacturing Company The following information is available for Shanika Company for 20Y6: Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory $344,300 48,680 65,410 780,890 25,860 91,270 765,680 267,230 21,300 44,120 36,000 3,584,980 440,140 17,750 11,160 Required: 2. Prepare the 20Y6 Income statement. Finished goods inventory, January 1, 20Y6 v Cost of goods manufactured Cost of finished goods avaliable for sale Finished goods inventory, December 31,20Y6 Cost of goods sold Gross profit Operating expenses: Administrative expenses: Total administrative expenses Selling expenses: Total selling expenses Total operating expenses