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

Sales	$ 900,000
Raw materials inventory, beginning	40,000
Work in process inventory, beginning	52,000
Finished goods inventory, beginning	68,000
Raw materials purchases	184,000
Direct labor	221,000
Indirect labor	33,000
RepairsFactory equipment	26,000
Rent cost of factory building	52,000
Selling expenses	83,000
General and administrative expenses	133,000
Raw materials inventory, ending	48,000
Work in process inventory, ending	62,000
Finished goods inventory, ending	82,000

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $498,000.

\begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ DELRAY MANUFACTURING } & \\ \hline \multicolumn{2}{|c|}{ Income Statement } & \\ \hline Cor Year Ended December 31 & & \\ \hline & & \\ \hline & & \\ \hline Goods available for sale & & \\ \hline & & \\ \hline Cost of goods sold & & \\ \hline & & \\ \hline \end{tabular}