Use the following information for the Exercises below. 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 $ 1,407,000 39, eee 53,000 66,900 190,400 237,800 20,800 60,000 5,25e 58,000 1, 101, eee 143,000 40,200 45,500 74,700 Prepare its schedule of cost of goods manufactured for the current year ended December 31. DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended December 31, Year 1 Direct materials 12 Raw materials available for use 0 Direct materials used $ 0 Factory overhead: Factory overhead: + 0 Total factory overhead costs Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured $ 0 Exercise 14-14 Income statement preparation LO P2 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG. 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 CO2