9 Required information Part 2 of 2 [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. 3 Sales $ 1, 750, 000 points Raw materials inventory, beginning 74, 000 Work in process inventory, beginning 96, 000 Finished goods inventory, beginning 125, 000 eBook Raw materials purchases 340, 000 Direct labor 408, 000 Hint Indirect labor 61, 000 Repairs-Factory equipment 49, 000 Print Rent cost of factory building 98, 000 Selling expenses 157, 000 References General and administrative expenses 251, 000 Raw materials inventory, ending 89, 000 Work in process inventory, ending 115, 000 Finished goods inventory, ending 150, 000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $922,000.Prepare an income statement for Delray Manufacturing {a manufacturer). Assume that its cost of goods manufactured is $922,000. Cost of goods man ufactured $ Cost of goods sold: Raw materials inventory, beginning $ Raw materials purchases Raw materials inventory, ending (39,000) Goods available for sale 325,000 Cost of goods sold 325,000 507,000 Net income $ 50?,000