Prepare an income statement pr 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 Sales REX MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold Finished goods inventory, beginning $ 17,300 Cost of goods manufactured (41,300) Goods available for sale (24,000) Less: Finished goods inventory, ending (20,300) Cost of goods sold Gross profit Selling expenses General and administrative expenses Net income $ 94,600