The following selected account balances are provided for Delray Mfg. Sales $ 1,061,000 Raw materials inventory, Dec. 31, 2016 44,000 Work in process inventory, Dec. 31, 2016 51,000 Finished goods inventory, Dec. 31, 2016 66,000 Raw materials purchases 191,100 Direct labor 224,000 Factory computer supplies used 24,600 Indirect labor 58,000 RepairsFactory equipment 5,250 Rent cost of factory building 53,000 Advertising expense 81,000 General and administrative expenses 136,000 Raw materials inventory, Dec. 31, 2017 43,200 Work in process inventory, Dec. 31, 2017 42,600 Finished goods inventory, Dec. 31, 2017 66,500

Exercise 1-14 Income statement preparation LO P2

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