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

Sales	$ 1,000,000
Raw materials inventory, beginning	44,000
Work in process inventory, beginning	57,000
Finished goods inventory, beginning	74,000
Raw materials purchases	202,000
Direct labor	242,000
Indirect labor	36,000
RepairsFactory equipment	29,000
Rent cost of factory building	58,000
Selling expenses	93,000
General and administrative expenses	149,000
Raw materials inventory, ending	53,000
Work in process inventory, ending	68,000
Finished goods inventory, ending	89,000

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $547,000.