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[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

$ 2,400,000

Raw materials inventory, beginning

100,000

Work in process inventory, beginning

130,000

Finished goods inventory, beginning

169,000

Raw materials purchases

460,000

Direct labor

552,000

Indirect labor

83,000

RepairsFactory equipment

66,000

Rent cost of factory building

132,000

Selling expenses

211,000

General and administrative expenses

338,000

Raw materials inventory, ending

120,000

Work in process inventory, ending

156,000

Finished goods inventory, ending

203,000

Prepare an income statement for Delray Manufacturing (a manufacturer). Assume that its cost of goods manufactured is $1,247,000.

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