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 Pinished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 2,250,000 94,000 122,000 159,000 432,000 518,000 78,000 62,000 124,000 198,000 317,000 113,000 146,000 191,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,171,000. Cost of goods sold. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold Net income