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. $ 17,000 Finished goods inventory, ending General and administrative expenses. Accounts receivable 15,800 19,800 Finished goods inventory, beginning Cost of goods manufactured 20,800 41,800 Selling expenses 13,000 Cash 56,800 Land Sales 29,800 95,600 Equipment 2,800 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured i Goods available for sale Less Finished goods inventory ending Cost of goods sold Gross profit Selling expenses General and administrative expenses REX MANUFACTURING Income Statement For Year Ended December 31 S 20,800 41.800 62.600 17,800 S 95,600 13,800 15,800