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 $ 1,445,000 37,000 55,900 64,800 165, 600 227,000 16,400 52,000 5,250 53,000 82,000 142,000 48,200 43,600 73, 800 Exercise 1-14 Income statement preparation LO P2 Prepare an income statement for Delray Mig. (a manufcturer)