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 $271,830 $334,350 Work in process 489,290 454,720 Finished goods 470,270 464,750 Advertising expense $227,020 Depreciation expense-office equipment 32,100 Depreciation expense-factory equipment 43,130 Direct labor 514,900 Heat, light, and power-factory 17,050 Indirect labor 60,180 Materials purchased 504,870 Office salaries expense 176,200 Property taxes-factory 14,040 Property taxes-headquarters building 29,090 Rent expense-factory 23,740 Sales 2,363,850 Sales salaries expense 290,220 Supplies-factory 11,700 Miscellaneous costs-factory 7,360 Required: 1. Prepare the statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6 $fill in the blank 3afe2bf5ffb300d_2 Direct materials: $fill in the blank 3afe2bf5ffb300d_4 fill in the blank 3afe2bf5ffb300d_6 $fill in the blank 3afe2bf5ffb300d_8 fill in the blank 3afe2bf5ffb300d_10 $fill in the blank 3afe2bf5ffb300d_12 fill in the blank 3afe2bf5ffb300d_14 Factory overhead: $fill in the blank 3afe2bf5ffb300d_16 fill in the blank 3afe2bf5ffb300d_18 fill in the blank 3afe2bf5ffb300d_20 fill in the blank 3afe2bf5ffb300d_22 fill in the blank 3afe2bf5ffb300d_24 fill in the blank 3afe2bf5ffb300d_26 fill in the blank 3afe2bf5ffb300d_28 Total factory overhead fill in the blank 3afe2bf5ffb300d_29 Total manufacturing costs incurred fill in the blank 3afe2bf5ffb300d_30 Total manufacturing costs $fill in the blank 3afe2bf5ffb300d_31 fill in the blank 3afe2bf5ffb300d_33 Cost of goods manufactured $fill in the blank 3afe2bf5ffb300d_34 2. Prepare the income statement. Shanika Company Income Statement For the Year Ended December 31, 20Y6 $fill in the blank 0f8325fcc06f061_2 Cost of goods sold: $fill in the blank 0f8325fcc06f061_4 fill in the blank 0f8325fcc06f061_6 $fill in the blank 0f8325fcc06f061_8 fill in the blank 0f8325fcc06f061_10 fill in the blank 0f8325fcc06f061_12 $fill in the blank 0f8325fcc06f061_14 Operating expenses: Administrative expenses: $fill in the blank 0f8325fcc06f061_16 fill in the blank 0f8325fcc06f061_18 fill in the blank 0f8325fcc06f061_20 $fill in the blank 0f8325fcc06f061_21 Selling expenses: $fill in the blank 0f8325fcc06f061_23 fill in the blank 0f8325fcc06f061_25 fill in the blank 0f8325fcc06f061_26 Total operating expenses fill in the blank 0f8325fcc06f061_27 $fill in the blank 0f8325fcc06f061_29