Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,323,000

! Required information [The following information applies to the questions displayed below.) Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales $ 2,550,000 Raw materials inventory, beginning 106,000 Work in process inventory, beginning 138,000 Finished goods inventory, beginning 179,000 Raw materials purchases 488,000 Direct labor 586,000 Indirect labor 88,000 Repairs-Factory equipment 70,000 Rent cost of factory building 140,000 Selling expenses 224,000 General and administrative expenses 358,000 Raw materials inventory, ending 127,000 Work in process inventory, ending 166,000 Finished goods inventory, ending 215,000 DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale Cost of goods sold Net income