The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: a. Purchased $42,500 of materials. b. Used $32,700 of direct materials in production. c. Incurred $48,900 of direct labor wages. d. Incurred $68,900 of factory overhead. e. Transferred $114,300 of work in process to finished goods. f. Sold goods for $204,400. g. Sold goods with a cost of $91,000. h. Incurred $52,300 of selling expense. i. Incurred $23,000 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 Line Item Description Operating expenses: Amount Amount 99+ 8:52