The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:

Purchased $$61,300$ of materials.

Used $$47,200$ of direct materials in production.

Incurred $$70,500$ of direct labor wages.

Incurred $$99,300$ of factory overhead.

Transferred $$164,900$ of work in process to finished goods.

Sold goods for $$294,900.$

Sold goods with a cost of $$131,200.$

Incurred $$75,400$ of selling expense.

Incurred $$33,100$ of administrative expense.

Using the information given, complete the following:

Question Content Area

a$.$ Prepare the January income statement for Sorensen Manufacturing Company.