The following information is available for Shanika Company for 20Y6:

1. Prepare the 20Y6 statement of cost of goods manufactured.

2. Prepare the 20Y6 income statement.

Inventories Materials January 1 December 31 $376,210 $466,500 677,180 634,440 Work in process Finished goods 650,840 648,440 $316,750 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment 44,780 60,180 718,410 23,790 83,970 Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-headquarters building Rent expense-factory 704,420 245,850 19,590 40,590 33,120 Sales 3,298,160 404,920 Sales salaries expense Supplies-factory Miscellaneous costs-factory 16,330 10,260