of 2 Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,141,000 38,000 56,700 67.600 154,000 242,000 23,100 47,000 5,250 51,000 109,000 126,000 41,900 38,000 71,40e ook int Prepare an income statement for Delray Mfg (a manufacturer) rences DELRAY MFG. Income Statement For Year Ended December 31, Year 1 Sales Cost of goods sold Finished goods inventory beginning S Cost of goods manufactured $ 1.141,000 67.600 1.141,000 71,400 Cost of goods available for sale Less Finished goods inventory ending Cost of goods sold Gross profit Operating expenses General and administrative expenses Advertising expense 1.069,600 71,400 126,000 109,000 Total operating expenses Operating income 235.000 $ (163,600)