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 16,500 General and administrative expenses 14,500 Accounts receivable 19,500 Finished goods inventory, beginning 19,500 Cat of goods manufactured 40.500 Selling expenses Cash Tand Sales 12,500 55,500 28,500 93,000 1,500 REX MANUFACTURING Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning $ 19,500 Cost of goods manufactured 19,500 93,000