Labels

• Advertising expense
• Cost of goods manufactured
• Direct labor
• Factory computer supplies used
• Finished goods inventory, December 31, 2016
• Finished goods inventory, December 31, 2017
• General and administrative expenses
• Indirect labor
• Raw materials inventory, December 31, 2016
• Raw materials inventory, December 31, 2017
• Raw materials purchases
• Rent cost of factory building
• RepairsFactory equipment
• Sales
• Work in process inventory, December 31, 2016
• Work in process inventory, December 31, 2017

Required information The following selected account balances are provided for Delray Mfg. Sales 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 $ 1,253,000 39,000 51,500 65,500 166,500 242,000 19,100 55,000 5,250 60,000 105,000 140,000 49,400 44,100 73,100 Prepare an income statement for Delray Mfg. (a manufacturer). Answer is not complete. DELRAY MFG. Income Statement For Year Ended December 31, 2017 Factory computer supplies used Cost of goods sold Finished goods inventory, December 31, 2016 $ Cost of goods manufactured $ 1,253,000 65,500 Cost of goods available for sale 65,500 Cost of goods sold 65,500 1,187,500 Operating expenses