QS 14-11 (Algo) Preparing an income statement LO P1 Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hi information given is needed for the solution. Finished goods inventory, ending General and administrative expenses Accounts receivable $ 17,000 15,000 19,000 Finished goods inventory, beginning Cost of goods manufactured 20,000 41,000 Selling expenses Cash 13,000 56,000 Land 29,000 Sales Equipment REX MANUFACTURING Income Statement For Year Ended December 31 94,000 2,000 Cost of goods sold 0