4 Required information The following selected account balances are provided for Delray Mfg. 10 points Sale Raw materials inventory, beginning Work in process inventory, beginning Pinished goods inventory, beginning Raw materiale purchaser Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cont of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,251,000 42,000 56,700 66,200 193,900 245,000 20,200 $2,000 5.250 54,000 205,000 132,000 47,900 42,100 68,300 Prepare an income statement for Delray Mfg. (a manufacturer) 4 Prepare an income statement for Delray Mfg. (a manufacturer). Answer is not complete. 10 points 0 DELRAY MFG. Income Statement For Year Ended December 31, Year 1 Direct labor Cost of goods sold Cost of goods manufactured Advertising expense Factory supplies used Cost of goods available for sale Add: Finished goods inventory, ending Cost of goods sold Gross profit Operating expenses Direct labor Factory supplies used Factory supplies used Factory supplies used Total operating expenses Operating income 0 0 $ 0