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 $ 18,000 General and administrative expenses 16,000 Accounts receivable 20,000 Finished goods inventory, beginning 21,000 Cost of goods manufactured 42,000 Selling expenses 14,000 Cash 57,000 Land 30,000 Sales 96,000 Equipment 3,000