BlueScope Steel Limited, an Australian flat product steel producer, closes its books and prepares financial statements at the end of each month. The statement of cost of goods sold for September follows: BlueScope Steel Limited Statement of Cost of Goods Sold For the Month Ended September 30 Beginning Finished Goods Inventory $ 50,000 Cost of goods manufactured 790,000 Cost of goods available for sale 840,000 Less: Ending Finished Goods Inventory 247,000 Cost of goods sold $ 593,000 Additional Information: . Of the utilities, 80 percent relates to manufacturing the steel; the remaining 20 percent relates to the sales and administrative function. All rent is for the office building. Property taxes are assessed on the manufacturing plant. Of the insurance, 60 percent is related to manufacturing the steel, the remaining 40 percent is related to the sales and administrative functions. The company manufactured 7,825 tons of steel during September. The inventory balances at October 31, follow: Materials inventory 23,000 Work-in-Process Inventory 220,000 Finished goods Inventory 175,000 Depreciation expense includes the following: Manufacturing plant 20,000 Manufacturing equipment 30,000 Office equipment 4,000 54,000BlueScope is subject to 30% company tax. BlueScope Steel Limited Pre-closing Account Balances October 31. Cash and Marketable securities 54,000 Accounts and notes receivable 210,000 Property, plant, and equipment (net) 1,140,000 Accounts, notes, and taxes payable 70,000 Bonds Payable 582,000 Paid-in capital 100,000 Retained earnings 930,000 Sales 1,488,000 Cost of goods sold 1,112,000 Purchases of direct materials 510,000 Total Manufacturing Cost 1,100,000 Direct Labor 260,000 Indirect factory labor 90,000 Office salaries 122,000 Sales salaries 42,000 Utilities 135,000 Rent 9,000 Property tax 60,000 Insurance 20,000 Depreciation 54,000 Office supplies expense 6,000 REQUIRED: A. Prepare a Schedule of Cost of Goods Manufactured for October. B. Prepare a Schedule of Cost of Goods Sold for October. C. Prepare an Income Statement for the month of October