Required Information Use the following information for the Exercises below. The following selected account balances provided for Delray Mfg. are Sales 1,284,eee 44,eea 52,100 68,400 165, 208 Raw materials inventory, Dec. 31, 2816 Work in process inventory, Dec. 31, 2816 Finished goods inventory, Dec. 31, 2816 Raw materials purchases Direct labor 232,eee Factory computer supplies used Indirect labor 18,5ee 49,eee 5,250 52,0ee 106,eea 137,eee Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, Dec. 31, 2017 Work in process inventory, Dec. 31, 2017 Finished goods inventory, Dec. 31, 2817 48,288 47.608 7e,6e8 Exerclse 18-14 Income statement preparatlon LO P2 Prepare an income statement for Delray Mfg. (a manufacturer) Exercise 18-14 Income statement preparation LO P2 Prepare an income statement for Delray Mfg. (a manufacturer DELRAY MFG. Income Statement For Year Ended December 31, 2017 Sales S 1,204.000 Cost of goods sold Finished goods inventory. December 31, 2016 S 68.400 Cost of goods manufactured Cost of goods available for sale 68.400 Less: Finished goods inventory. December 31, 2017 70,600 (2,200) Cost of goods sold Gross profit Operating expenses Advertising expense 103,000 General and administrative expenses 137,000 Total operating expenses 243.000 S (243,000) Operating income