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 Rent cost of factory building Selling expenses General and administrative expenses. Raw materials inventory, ending. Work in process inventory, ending. Finished goods inventory, ending. $ 2,450,000 102,000 133,000 173,000 469,000 563,000 84,000 67,000 134,000 214,000 342,000 122,000 160,000 208,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,270,000.