Sttement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Shanika Company for 20Y6: Inventories Materials Work in process Finished goods January 1 77,350 109,200 113,750 December 31 95,550 96,200 100,100 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat,light, and power-factory Indirect labor Materials purchased 68,250 22,750 14,560 186,550 5,850 23,660 123,500