QS 1-11 (Algo) Preparing an Income statement LO P1 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 $ 17, 100 General and administrative expenses 15, 100 Accounts receivable 19, 109 Finished goods inventory, beginning 20, 109 Cost of goods manufactured 41, 108 Selling expenses 13, 100 Cash 56, 100 Land 29, 100 Sales 94, 209 Equipment 2, 108 REX MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold