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 Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,750,000 74,000 96,000 125,000 340,000 408,000 61,800 49,000 98,000 157,000 251,800 89,000 115,080 150,000 Prepare its schedule of cost of goods manufactured for the year ended December 31. DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials: Raw materials available for use Direct materials used Factory overhead: Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $922,000. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold