E19.14 (LO 3) The followi The following information is available for Patel Ltd. January 1, 2020 R$ 210,000 Prepa Raw materials inventory 2020 man December 31, 2020 a par Work in process inventory Finished goods inventory 135,000 Rs300.000 270,000 172.000 Materials purchased 210.000 Direct labor Rs1,500,000 Manufacturing overhead 2,200,000 1.800.000 Sales revenue 9,100,000 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, statement of financial position How would the income statement and statement of financial position of a merchandising company be different from Patel's financial statements