Exercise 1-14 Income statement preparation LO P2 Following are the selected account balances of Delray Mfg Sales Raw materials inventory, Dec. 31, 2014 Work in process inventory, Dec. 31, 2014 Finished goods inventory, Dec. 31, 2014 Raw materials purchases Direct labon 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, 2015 Work in process inventory, Dec. 31, 2015 Finished goods inventory, Dec. 31, 2015 $1,169,000 39,000 52,100 62,600 181,500 247,000 19,800 45,000 5,250 60,000 81,000 125,000 45,300 46,700 73,300