Prepare an income statement for Delray Mfg. (a manufacturer).

Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. $ 1,134,000 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 41,000 53,200 66,300 160,700 230,000 19,300 Factory computer supplies used Indirect labor 51,000 5,250 58,000 98,000 134,000 46,800 42,100 70, 200 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 DELRAY MFG. Income Statement For Year Ended December 31, 2017 $ 1,134,000 Sales Cost of goods sold 66,300 Finished goods inventory, December 31, 2016 Cost of goods manufactured Cost of goods available for sale 66,300 Less: Finished goods inventory, December 31, 2017 Cost of goods sold 66,300 Gross profit 1,067,700 Operating expenses Advertising expense General and administrative expenses Total operating expenses $ 1,067,700 Operating income