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 General and administrative expenses Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses Cash Land Sales Equipment $ 17,300 15,300 19,300 20,300 41,300 13,300 56,300 29, 300 94,600 2,300 REX MANUFACTURING Income Statement For Year Ended December 31 $ 94.600 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured $ 20,300 41,300 Goods available for sale 61.600 17,300 Less: Finished goods inventory, ending Cost of goods sold 44,300