CARLA VISTACOMPANY Income Statement For the Month Ended October 31, 2022 Sales (net) $ 783.300 Less: Operating expenses Raw materials purchases $264,650 Direct labour cost 190,650 Advertising expense 89,700 Selling and administrative salaries 74,800 Rent on factory facilities 60,600 Depreciation on sales equipment 45,000 Depreciation on factory equipment 31,250 Indirect labour cost 28,850 Utilities expense 12,700 Insurance expense 8,450 806,650 Net Loss $93,350) Prior to October 2022, the company had been protable every month. The company's president is concerned about the accuracy of the income statement. As his friend, he has asked you to review the income statement and make necessary corrections. After examining other manufacturing cost data, you have acquired the following additional information. 1. Inventory balances at the beginning and end of October were as follows: October 1 October 31 Raw materials $7,350 $29,700 Work in process 16,350 14,700 Finished goods 30,600 45,850 2. Only 75% of the utilities expense and 50% of the insurance expense apply to factory operations. The remaining amounts should be charged to selling and administrative activities. Prepare a schedule of the cost of goods manufactured for October 2022. BAJAJ . WETAKES Google Chrome . CARLA VISTACOMPANY Cost of Goods Manufactured Schedule $ to i to i $Prepare a correct income statement for October 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) CARLA VISTACOMPANY Income Statement $ V $