The following selected account balances are provided for vell dy WIL 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 $ 1,329,000 39,000 50,700 63,400 194,100 235,000 23,500 51,000 5,250 56,000 102,000 132,000 42,100 38,200 65,200 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. Income Statement For Year Ended December 31, 2017 $ 132,900 Sales Cost of goods sold Finished goods inventory, December 31, 2016 Cost of goods manufactured $ 63,400 25,600 89.000 Cost of goods available for sale Less: Finished goods inventory, December 31, 2017 Cost of goods sold Gross profit S Operating expenses | Advertising expense General and administrative expenses 89,000 43,900 102.000 132.000 Total operating expenses Operating income 234.000 S (190.100)