E1.14 (LO 3), AP The following information is available for Aikman Company. Prepare a schedule statement January 1, 2020 $21,000 13,500 27,000 2020 December 31, 2020 $30,000 17,200 21,000 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor Manufacturing overhead Sales revenue $150,000 220,000 180,000 910,000 Instructions a. Compute cost of goods manufactured. b. Prepare an income statement through gross profit. c. Show the presentation of the ending inventories on the December 31, 2020, balance sheet. d. How would the income statement and balance sheet of a merchandising company be different from Aikman's financial statements