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.

$\backslash$table$[[$Finished goods inventory, ending,$],[$General and administrative expenses,$16,100],[$Accounts receivable,$14,100],[$Finished goods inventory, beginning,$18,100],[$Cost of goods manufactured,$19,100],[$Selling expenses,$40,100],[$Cash$,12,100],[$Land$,55,100],[$Sales$,28,100],[$Equipment$,92,200],[,1,100]]$

$\backslash$table$[[$REX MANUFACTURING,$],[$For Year Ended December $31,,],[$Sales$,,],[$Cost of goods sold,,$92,200],[$Finished goods inventory, beginning,$$,],[$Cost of goods manufactured,$19,100,],[$Goods available for sale,$40,100,],[$Less: Finished goods inventory, ending,$59,200,],[$Cost of goods sold,$16,100,],[$Gross profit,,$],[$Selling expenses,,$],[$General and administrative expenses,,$],[,,],[$Net income,,$]]$