Required information Use the following information for the Exercises below. 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 1,272,000 38,000 52,000 63,500 180, 200 247,000 15,100 46,000 5,250 53,000 81,000 143,000 44,600 41,100 69,100 Exercise 14-14 Income statement preparation LO P2 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Enderecember 21 Year 1