Check my work Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg Sales $ 1,400,000 45,000 52,000 65,300 183,500 244,000 15,300 49,000 5,250 60,000 82,000 126,000 49,200 47,900 74,900 Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 Exercise 1-14 Income statement preparation LO P2 Exercise 1-14 Income statement preparation LO P2 Prepare an income statement for Delray Mfg. (a manufacturer) DELRAY MFG ncome Statement For Year Ended December 31, 2017 Sales $1,400,000 Cost of goods sold Finished goods inventory, December 31, 2016 Cost of goods manufactured Cost of goods available for sale Less: Finished goods inventory, December 31, 2017 Cost of goods sold Gross profit Operating expenses Advertising expense General and administrative expenses Total operating expenses 0 Operating income