Exercise 14-14 (Algo) Income statement preparation LO P1 Part 2 of 2 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,148,000. DELRAY MANUFACTURING 142 Income Statement points For Year Ended December 31 Cost of goods sold Hint Goods available for sale Cost of goods sold Print Net income6 Required information Part 2 of 2 Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] 1.42 Use the following selected account balances of Delray Manufacturing for the year ended December 31. points Sales $ 2,209, 800 Raw materials inventory, beginning 92,000 Work in process inventory, beginning 120,900 Finished goods inventory, beginning 156,006 c Book Raw materials purchases 423,090 Direct labor 508, 090 Indirect labor 76,090 Repairs-Factory equipment 61, 000 Hint Rent cost of factory building 122,009 Selling expenses 195,080 General and administrative expenses 312, 090 Raw materials inventory, ending 110,080 Print Work in process inventory, ending 144,000 Finished goods inventory, ending 187,060 Exercise 14-14 (Algo) Income statement preparation LO P1 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1, DELRAY MANUFACTURING Income Statement