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! Required information Use the following information for the Exercises below. The following selected account...

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Accounting

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! Required information Use the following information for the Exercises below. The following selected account balances are provided for Delray Mfg $1,270,000 35,000 58,900 65, 900 177,100 239, 000 18,400 50,000 5,250 57,000 90,000 143,000 44,300 41,500 66,000 ales Raw materials inventory, Dec. 31, 2016 Work in process inventory, Dec. 31, 2016 Finished goods inventory, Dec. 31, 2016 Raw materials purchases Direct labor Factory computer supplies used Indirect labor 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, 2017 Exercise 1-14 Income statement preparation LO P2 Required information DELRAY MFG Income Statement For Year Ended December 31, 2017 $ 1,270,000 Sales Cost of goods sold Finished goods inventory, December 31, 2016 65,900 Cost of goods manufactured Cost of goods available for sale 65,900 Less: Finished goods inventory, December 31, 2017 66,000 Cost of goods sold (100) Operating expenses Total operating expenses Operating income S 0

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