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Accounts receivable 18,400 Prepare an income statement for Rex Manufacturing for the year ended December 31 using the following information Hint Not all information given is needed for the solution Finished goods Inventory, ending $ 16,400 General and administrative expenses 14,400 Finished goods inventory, beginning 19,400 Cost of goods manufactured Selling expenses 12,400 55,400 28.400 Sales Equipment 1,400 40,400 Cash Land 92,800 $ 92 800 REX MANUFACTURING Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods Inventory beginning S Cost of goods manufactured Goods available for sale Less Finished goods inventory ending Cost of goods sold Gross pro 19 400 40.400 59,800 16400 General and administrative expenses Accounts receivable Finished goods inventory, beginning Cost of goods manufactured Selling expenses Cash Land Sales Equipment 14,400 18,400 19,400 40,400 12,400 55,400 28,400 92,800 1,400 $ 92,800 REX MANUFACTURING Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning $ Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold (Gross profit CA 19,400 40,400 59,800 16,400