15 Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor $ 2,750,000 114,000 148,000 192,000 524,000 629,000 Indirect labor 94,000 Repairs-Factory equipment 75,000 Rent cost of factory building 150,000 Selling expenses 240,000 General and administrative expenses 384,000 Raw materials inventory, ending 137,000 Work in process inventory, ending 178,000 Finished goods inventory, ending 230,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,419,000. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale