Question

The following selected account balances are provided for Delray Mfg.

Sales $ 1,140,000 Raw materials inventory, Dec. 31, 2016 38,000    Work in process inventory, Dec. 31, 2016 53,300    Finished goods inventory, Dec. 31, 2016 67,100   Raw materials purchases 153,000     Direct labor 245,000      Factory computer supplies used 15,100    Indirect labor 54,000    Repairs—Factory equipment 5,250    Rent cost of factory building 54,000     Advertising expense 92,000     General and administrative expenses 138,000     Raw materials inventory, Dec. 31, 2017 47,200     Work in process inventory, Dec. 31, 2017 44,700     Finished goods inventory, Dec. 31, 2017 66,400

Prepare an income statement for Delray Mfg. (a manufacturer).

 

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