M01 Ch 14 Homework i ! 2 Required information Saved Help Save & Exit Submit Part 2 of 2 Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg. 10 points 01:42:51 eBook 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 Ask $ 1,059,000 42,000 51,000 68,000 192,200 242,000 18,500 42,000 5,250 57,000 101,000 135,000 49,300 41,600 69,500 Exercise 14-14 Income statement preparation LO P2 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 $ 1,059,000 $ 68,000