1. Assignment: The following information is available for Aikman Company. January 1, 2017 December 31, 2017 Raw materials inventory $21,000 $30,000 Work in process inventory 13,500 17,200 Finished goods inventory 27,000 21,000 Materials purchased $150,000 Direct labor 220,000 Manufacturing overhead 180,000 Sales revenue 910,000 Instructions: a) Compute cost of goods manufactured. (Final Answer=$537.300) b) Prepare an income statement through gross profit. (F.A= $366,700) e) Show the presentation of the ending inventories on the December 31, 2017, balance sheet. (F.A=$68,200) d) How would the income statement and balance sheet of a merchandising company be different from Aikman's financial statements