The following information is available for The NewQuest Corporation for 2016: December 31 Inventories Materials Work in process Finished goods January 1 $78,750 108,600 113,750 $94,450 96,800 109,100 December 31 69,000 22,750 14,860 184,350 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries experse Property taxes-factory Property taxes-office building Rent expense-factory 24,800 77.750 4,170 13,200 Sales salaries expense 138,500 5,000 Required: A. Prepare the 2016 statement of cost of goods manufactured. B. Prepare the 2016 income statement Refer to the Amount Desoriptions list provided for the exact wordling of the answer choices for text entries. Less"or Plus"will All work saved. MacBook Pro