Use the following selected account balances of Delray Manufacturing for the year ended December 31 Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment $ 2,200,000 92,000 120,000 156,000 423,000 508,000 76,000 61,000 Rent cost of factory building 122,000 Selling expenses 195,000 General and administrative expenses 312,000 Raw materials inventory, ending 110,000 Work in process inventory, ending 144,000 Finished goods inventory, ending 187,000 Prepare an income statement for Delray Manufacturing (a manufacturer) Assume that its cost of goods manufactured is $1,148,000 Direct labor Cost of goods sold DELRAY MANUFACTURING Income Statement For Year Ended December 311 Goods available for sale Cost of goods sold Net income $ 0 B < Prev 9 BO of 10 Next