! Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2017 $ 1,147,000 36,000 56,300 64,500 188, 100 243,000 23,500 41,000 5,250 59,000 100,000 134,000 44,700 45, 100 73,600 Exercise 18-14 Income statement preparation LO P2 Prepare an income statement for Delray Mfg. (a manufacturer). Exercise 18-14 Income statement preparation LO P2 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, 2017 Cost of goods sold Cost of goods available for sale Cost of goods sold Operating expenses Total operating expenses Operating income