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 $ 1,165,000 41,000 50, 100 69,700 190,900 225,000 15,700 57,000 5,250 52,000 108,000 142,000 49,400 41,300 66,200 DELRAY MEG Income Statement For Year Ended December 31, Year 1 Cost of goods sold Cost of goods available for sale 0 Cost of goods sold 0 Operating expenses Advertising expense 0 Total operating expenses Operating income S 0