Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, 2017 Cost of goods sold Cost of goods available for sale Cost of goods sold Operating expenses Total operating expenses Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 12,200 16,400 8,700 34,750 23,000 20,000 25, 300 7,800 14,100 12,400 21,000 2,050 5,780 38,000 63,600 222,30 26,000 222,500 14,600 Pepper Company $ 19,450 22,650 10, 350 22,300 38,200 13,700 21,200 10,000 14,500 5,900 57,500 8,680 2,550 64,500 50,500 322,510 24,200 154,825 21,950