Required information

The following selected account balances are provided for Delray Mfg.

Sales	$	1,308,000
Raw materials inventory, beginning		44,000
Work in process inventory, beginning		56,500
Finished goods inventory, beginning		68,100
Raw materials purchases		158,500
Direct labor		247,000
Factory supplies used (indirect materials)		23,600
Indirect labor		45,000
RepairsFactory equipment		5,250
Rent cost of factory building		58,000
Advertising expense		110,000
General and administrative expenses		135,000
Raw materials inventory, ending		45,900
Work in process inventory, ending		47,400
Finished goods inventory, ending		65,900

Prepare an income statement for Delray Mfg. (a manufacturer).