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 $ 2,250,000 94,000 122,000 159,000 432,000 518,000 78,000 62,000 124,000 198,000 General and administrative expenses 317,000 Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 113,000 146,000 191,000 Repairs-Factory equipment Rent cost of factory building Selling expenses Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,171,000. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Sales Cost of goods sold: Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Cost of goods sold Selling expenses General and administrative expenses Net income 0 0 $ 0