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 $ 1,217,000 42,000 50,200 68,200 166,400 225,000 24,100 55,000 5,250 54,000 95,000 145,000 49,400 41,100 73,800 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG Income Statement For Year Ended December 31, 2017 Cost of goods sold Raw materials purchases Cost of goods available for sale 0) Cost of goods sold Operating expenses Total operating expenses Operating income