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 $44,100 of materials. Used $34,000 of direct materials in production. Incurred $50,700 of direct labor wages. Incurred $71,400 of factory overhead. Transferred $118,600 of work in process to finished goods. Sold goods for $212,100. Sold goods with a cost of $94,400. Incurred $54,200 of selling expense. Incurred $23,800 of administrative expense. Using the information given, complete the following: Question Content Area a. Prepare the January income statement for Sorensen Manufacturing Company. Sorensen Manufacturing Company Income State