Use the following selected account balances of Delray Manufacturing for the year ended December 31.

Sales	$ 1,250,000
Raw materials inventory, beginning	37,000
Work in process inventory, beginning	53,900
Finished goods inventory, beginning	62,700
Raw materials purchases	175,600
Direct labor	225,000
Indirect labor	47,000
RepairsFactory equipment	23,000
Rent cost of factory building	57,000
Selling expenses	94,000
General and administrative expenses	129,300
Raw materials inventory, ending	42,700
Work in process inventory, ending	41,500
Finished goods inventory, ending	67,300

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $534,300.