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. $ 2,150,000 90,000 117,000 152,000 414,000 497,000 75,000 Repairs-Factory equipment 60,000 Rent cost of factory building 120,000 Selling expenses 192,000 General and administrative expenses 307,000 Raw materials inventory, ending 108,000 Work in process inventory, ending Finished goods inventory, ending 140,000 182,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,125,000. Cost of goods sold: DELRAY MANUFACTURING Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold Indirect labor Repairs-Factory equipment 60,000 Rent cost of factory building 120,000 Selling expenses 192,000 General and administrative expenses 307,000 Raw materials inventory, ending 108,000 Work in process inventory, ending 140,000 Finished goods inventory, ending 182,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its co Cost of goods sold: DELRAY MANUFACTURING Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold Net income