ation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F Maps Pearson Troubles... Saved -16 Required information The following selected account balances are provided for Delray Mfg. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,331,000 36,000 50,700 69,500 191,400 229,000 17,100 55,000 5,250 55,000 81,000 136,000 42,300 40,400 73,900 Prepare an income statement for Delray Mfg. (a manufacturer). DELRAY MFG Income Statement For Year Ended December 31, Year 1 Sales Cost of goods sold Finished goods inventory, beginning $ Cost of goods manufactured $ 1,331,000 69,500 Prepare an income statement for Delray Mfg. (a manufacturer). of 2 DELRAY MFG Income Statement For Year Ended December 31, Year 1 Sales Cost of goods sold Finished goods inventory, beginning $ Cost of goods manufactured $ 1,331,000 1:12:58 69,500 69,500 73,900 (4.400) Cost of goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit Operating expenses Advertising expense General and administrative expenses 81,000 136,000 Total operating expenses Operating income 217,000 $ (217,000)