12 Part 2 of 2 Required information Use the following Information for the Exercises below. The following selected sccount balances are provided for Deray Mig 10 $ 1,651, 53,000 2.00 sek Direct labore Sales Raw materials inventory, beginning work in process Inventory, beginning Finished goods Inventory, beginning waterials purchases Factory Supplies used (Indirect materials) Repairs-Factory equipment Rent cost of factory building Advertising expense General and instrutive expenses Raw materials Inventory, ending work in process Inventory, ending Finished goods inventory, anding 153,40 158 242, 25. 15, see # 51,80 93,80 340, 46,500 20,30 Raven Exercise 14-14 Income statement preparation LO P2 Prepare an income statement for Dersy Miga manufacturer DELRAY MFG Income Statement For Year Ended December 31, Yoar 1 Direct labor Cost of goods sold Cost of goods available for sale Cost of goods sold 0 Operating expenses Total operating expenses Operating income