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 $201,090 $245,330 Work in process 361,960 333,650 Finished goods 347,890 341,010 Line Item Description Amount Advertising expense $166,580 Depreciation expense-office equipment 23,550 Depreciation expense-factory equipment 31,650 Direct labor 377,810 Heat, light, and power-factory 12,510 Indirect labor 44,160 Materials purchased 370,450 Office salaries expense 129,290 Property taxes-factory 10,300 Property taxes-headquarters building 21,340 Rent expense-factory 17,420 Sales 1,734,480 Sales salaries expense 212,950 Supplies-factory 8,590 Miscellaneous costs-factory 5,400 Required: Question Content Area 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6 Costs Type Amount Amount Amount $- Select - Direct materials: $- Select - - Select - $- Select - - Select - $- Select - - Select - Factory overhead: $- Select - - Select - - Select - - Select - - Select - - Select - - Select - Total factory overhead Total factory overhead Total manufacturing costs incurred in 20Y6 Total manufacturing costs incurred in 20Y6 Total manufacturing costs $Total manufacturing costs - Select - $- Select - Question Content Area 2. Prepare the 20Y6 income statement. Shanika Company Income Statement For the Year Ended December 31, 20Y6 Line Item Description Amount Amount Amount $- Select - Cost of good sold: $- Select - - Select - $- Select - - Select - - Select - $- Select - Operating expenses: Administrative expenses: $- Select - - Select - - Select - blank Total administrative expenses blank $Total administrative expenses blank Selling expenses: $- Select - - Select - blank Total selling expenses blank Total selling expenses blank Total operating expenses Total operating expenses $- Select -