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 $ 1,300,000 56,000 73,000 95,000 258,000 310,000 47,000 Repairs-Factory equipment 38,000 Rent cost of factory building 76,000 Selling expenses 122,000 General and administrative expenses 195,000 Raw materials inventory, ending 67,000 Work in process inventory, ending 88,000 114,000 Finished goods inventory, ending Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $703,000. Cost of goods manufactured Cost of goods sold DELRAY MANUFACTURING Income Statement For Year Ended December 31 < Prev 5 of 5 # Next