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 $ 2,650,000 110,000 143,000 186,000 506,000 607,000 91,000 73,000 146,000 234,000 374,000 132,000 172,000 223,000 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,372,000. DELRAY MANUFACTURING Income Statement For Year Ended December 31 Cost of goods sold Goods available for sale Cost of goods sold Net income