Required information The following selected account balances are provided for Delray Mfg. $ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 1,195,000 39,000 56,900 62,900 173,200 224,000 20,800 54,000 5,250 53,000 101,000 130,000 40, 800 40,300 71,100 Prepare an income statement for Delray Mfg. (a manufacturer). Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, Year 1 Cost of goods sold Cost of goods available for sale s Cost of goods sold Operating expenses Total operating expenses Operating income