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Use the following selected account balances of Delray Manufacturing for the year ended December 31.

Sales	$ 1,150,000
Raw materials inventory, beginning	50,000
Work in process inventory, beginning	65,000
Finished goods inventory, beginning	85,000
Raw materials purchases	230,000
Direct labor	276,000
Indirect labor	41,000
RepairsFactory equipment	33,000
Rent cost of factory building	66,000
Selling expenses	106,000
General and administrative expenses	170,000
Raw materials inventory, ending	60,000
Work in process inventory, ending	78,000
Finished goods inventory, ending	102,000

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $623,000.

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