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E14-14 The following information is available for Aikman Company. Prepare a cost of goods January 1, 2017 2017 afactared schedule and a partial income statement December 31,2017 Raw materials inventory Work in process inventory Finished goods inventory Materials purchased Direct labor $21,000 13,500 27,000 $30,000 17,200 21,000 LO 3), AP Maa Bos ine 150,000 220,000 180,000 910,000 Sales revenue veueOerhead (a) Compute cost of goods manufactured (b) Prepare an income statement through gross profit. (cShow the presentation of the ending inventories on the December 31,2017, balance sheet. (d) How would the income statement and balance sheet of a merchandising company be different from Aikman's financial statements