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 $ 16,400 General and administrative expenses 14,400 Accounts receivable 18,400 Finished goods inventory, beginning 19,400 Cost of goods manufactured 40,400 Selling expenses 12,400 Cash 55,400 Land 28,400 Sales 92,800 Equipment 1,400 REX MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold