Prepare an income statement for Delray Mfg. (a manufacturer). Sales Cost of goods sold: Cost of goods manufactured Finished goods inventory, December 31, 2016 Raw materials purchases Cost of goods available for sale Cost of goods sold DELRAY MFG. Income Statement For Year Ended December 31, 2017 Gross profit Operating expenses: Advertising expense General and administrative expenses Total operating expenses Operating income 62,750 534,390 597,140 67,300 94,000 129,300 $ 1,250,000 $ 529,840 720,160 223,300 496,860

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