! Required information [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 Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor $ 950,000 42,000 55,000 72,000 193,000 232,000 35,000 28,000 56,000 Selling expenses 90,000 General and administrative expenses 144,000 Raw materials inventory, ending 50,000 Work in process inventory, ending 66,000 Finished goods inventory, ending 86,000 Repairs-Factory equipment Rent cost of factory building Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $525,000. DELRAY MANUFACTURING