[The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales $ 2,700,000 Raw materials inventory, 112,000 beginning Work in process inventory, 146,000 beginning Finished goods inventory, 190,000 beginning Raw materials purchases 515,000 Direct labor 618,000 Indirect labor 93,000 Repairs-Factory equipment 74,000 Rent cost of factory building 148,000 Selling expenses 237,000 General and administrative 379,000 expenses Raw materials inventory, 134,000 ending Work in process inventory, 175,000 ending Finished goods inventory, 228,000 ending DELRAY MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials: Raw materials available for use $ 0 $ 0 Direct materials used Factory overhead: Total factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured SA $ 0 0 0 0 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,397,000. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold: Goods available for sale 0 Cost of goods sold 0 Net income $ 0