Required information Skip to question [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales $ 1,250,000 Raw materials inventory, beginning 37,000 Work in process inventory, beginning 53,900 Finished goods inventory, beginning 62,700 Raw materials purchases 175,600 Direct labor 225,000 Indirect labor 47,000 RepairsFactory equipment 23,000 Rent cost of factory building 57,000 Selling expenses 94,000 General and administrative expenses 129,300 Raw materials inventory, ending 42,700 Work in process inventory, ending 41,500 Finished goods inventory, ending 67,300 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume