The following information is available for Elliot Company. January 1, 2019 2019 December 31, 2019 Raw materials inventory $26,000 $30,000 Work in process inventory 18,500 22,200 Finished goods inventory 30,000 21,000 Materials purchased $170,000 Direct labor 230,000 Manufacturing overhead 180,000 Sales 800,000 Prepare an income statement through gross profit. ELLOIT COMPANY Income Statement December 31, 2019 Save for Later Attempts: 0 of 1 used Submit