Saved Required information 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 1,414,000 44,000 51,400 63,300 154,200 247,000 15,500 54,000 5,250 57,000 109,000 129,000 42,500 39,500 71,700 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MEG. Income Statement For Year Ended December 31, Year 1 Cost of goods sold Cost of goods available for sale Cost of goods sold Operating expenses Total operating expenses Operating income