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

Sales $ $1,250,000$

Raw materials inventory, beginning $54,000$

Work in process inventory, beginning $70,000$

Finished goods inventory, beginning $91,000$

Raw materials purchases $248,000$

Direct labor $298,000$

Indirect labor $45,000$

Repairs$$Factory equipment $36,000$

Rent cost of factory building $72,000$

Selling expenses $115,000$

General and administrative expenses $184,000$

Raw materials inventory, ending $65,000$

Work in process inventory, ending $84,000$

Finished goods inventory, ending $109,000$

Prepare an income statement for Delray Manufacturing $($a manufacturer$).$ Assume that its cost of goods manufactured is $$674,000.$