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

Required information

The following selected account balances are provided for Delray Mfg.

Sales	$	1,081,000
Raw materials inventory, Dec. 31, 2016		36,000
Work in process inventory, Dec. 31, 2016		51,800
Finished goods inventory, Dec. 31, 2016		67,500
Raw materials purchases		178,700
Direct labor		245,000
Factory computer supplies used		19,200
Indirect labor		60,000
RepairsFactory equipment		5,250
Rent cost of factory building		57,000
Advertising expense		106,000
General and administrative expenses		130,000
Raw materials inventory, Dec. 31, 2017		43,000
Work in process inventory, Dec. 31, 2017		41,000
Finished goods inventory, Dec. 31, 2017		73,500