Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Use the following selected account balances of Delray Manufacturing for the year ended December 31. Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Indirect labor Repairs-Factory equipment Rent cost of factory building Selling expenses General and administrative expenses $ 1,450,000 62,000 81,000 105,000 285,000 342,000 51,000 41,000 82,000 131,000 210,000 Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 74,000 97,000 126,000 Exercise 14-14 (Algo) Income statement preparation LO F1 Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufa DELRAY MANUFACTURING Income Statement