Required information

Use the following information for the Exercises below.

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The following selected account balances are provided for Delray Mfg.

Sales	$	1,066,000
Raw materials inventory, Dec. 31, 2016		40,000
Work in process inventory, Dec. 31, 2016		56,700
Finished goods inventory, Dec. 31, 2016		65,100
Raw materials purchases		152,100
Direct labor		238,000
Factory computer supplies used		20,000
Indirect labor		55,000
RepairsFactory equipment		5,250
Rent cost of factory building		59,000
Advertising expense		83,000
General and administrative expenses		127,000
Raw materials inventory, Dec. 31, 2017		42,500
Work in process inventory, Dec. 31, 2017		41,200
Finished goods inventory, Dec. 31, 2017		69,200

Exercise 14-14 Income statement preparation LO P2

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