The following selected account balances are provided for Delray Mfg.

Sales	$	1,250,000
Raw materials inventory, Dec. 31, 2016		37,000
Work in process inventory, Dec. 31, 2016		53,900
Finished goods inventory, Dec. 31, 2016		62,750
Raw materials purchases		175,600
Direct labor		225,000
Factory computer supplies used		17,840
Indirect labor		47,000
RepairsFactory equipment		5,250
Rent cost of factory building		57,000
Advertising expense		94,000
General and administrative expenses		129,300
Raw materials inventory, Dec. 31, 2017		42,700
Work in process inventory, Dec. 31, 2017		41,500
Finished goods inventory, Dec. 31, 2017		67,300

Prepare an income statement for Delray Mfg. (a manufacturer).

Required Information 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 $ 1,250, eee 37,600 53,990 62,750 175,600 225, eee 17,840 47,600 5,250 57,00 94, ee 129,300 42,700 41,500 67,300 Prepare an income statement for Delray Mfg. (a manufacturer). Answer is complete but not entirely correct. DELRAY MFG. Income Statement For Year Ended December 31, 2017 S 1.250.000 Cost of goods sold: Finished goods inventory, December 31, 2016 S 62.750 Cost of goods manufactured 11,111 X Sales 73.881 > 67,300 Cost of goods available for sale Less: Finished goods inventory, December 31, 2017 Cost of goods sold Gross profit Operating expenses: Advertising expense General and administrative expenses 8.561 1.243.430 94,000 129,300 Total operating expenses Operating income 223,300 $ 1.020,139