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 $ 900,000 Raw materials inventory, beginning 40,000 Work in process inventory, beginning 52,000 Finished goods inventory, beginning 68,000 Raw materials purchases 184,000 Direct labor 221,000 Indirect labor 33,000 Repairs-Factory equipment 26,000 Rent cost of factory building 52,000 Selling expenses 83,000 General and administrative expenses 133,000 Raw materials inventory, ending 48,000 Work in process inventory, ending 62,000 Finished goods inventory, ending 82,000 Prepare an income statement for Delray Manufacturing a manufacturen. Assume that its cost of goods manufactured is $499.000 $ 900.000 DELRAY MANUFACTURING Income Statement For Yoar Ended December 31 Sales Cost of goods sold Finished goods inventory beginning Cost of goods manufactured Finished goods inventory ending Goods available for sale 0 Cost of goods sold 0 Selling expenses Net income $ 0