Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint: Not all information given is needed for the solution.

Finished goods inventory, ending	$ 17,600
General and administrative expenses	15,600
Accounts receivable	19,600
Finished goods inventory, beginning	20,600
Cost of goods manufactured	41,600
Selling expenses	13,600
Cash	56,600
Land	29,600
Sales	95,200
Equipment	2,600