S Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information. Hint: Not all information given is needed for the solution. Finished goods inventory, ending General and administrative expenses Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses Cash Land Sales Equipment $ 16,000 14,000 18,000 19,000 40,000 12,000 55,000 28,000 92,000 1,000 Sales REX MANUFACTURING Income Statement For Year Ended December 31 $ 92,000 Cost of goods sold Finished goods inventory, beginning $ 19,000 Cost of goods manufactured 40,000 Goods available for sale 59,000 Less: Finished goods inventory, ending 16,000 Cost of goods sold 43,000 Gross profit General and administrative expenses Selling expenses 49,000 14,000 12.000