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 1,109,000 40,000 59,500 61,500 188,600 224,000 17,800 47,000 5,250 58,000 89,000 138,000 41,500 42,900 72,400 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 Raw materials available for use 0 Direct materials used $ 0 Factory overhead: 0 Total factory overhead costs Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured $ 0 $ 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 1,109,000 40,000 59,500 61,500 188,600 224,000 17,800 47,000 5,250 58,000 89,000 138,000 41,500 42,900 72,400 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 Cost of goods sold Operating expenses Total operating expenses Operating income