Continuing Case 1-39 Empire I.td. Income Statement For the Month Finded October 31, 2020 Prior to Oetoher 2020. the company had been protitable every month. The company's president is concerned about the accuracy of the income statement. As her friend, you have been asked to review the income statement and make necessary corrections. After examining other manufacturing cost data, you have acquired additional information as follows. 1. Inventory balances at the heginning and end of October were: 2. Onily 755 of the utilities expense und 60% of the insurance expense apply to factory operations. The remaining amounts should be charged to selling and administrative aclivities. Instructions a. Prepare a schedule of cost of goods manufuctured for October 2020. a. CGM HKS5,818,000 h. Prepare a cortect income statement for Oetober 2020 . b. NI HKS 20,000 Continuing Case 1-39 Empire I.td. Income Statement For the Month Finded October 31, 2020 Prior to Oetoher 2020. the company had been protitable every month. The company's president is concerned about the accuracy of the income statement. As her friend, you have been asked to review the income statement and make necessary corrections. After examining other manufacturing cost data, you have acquired additional information as follows. 1. Inventory balances at the heginning and end of October were: 2. Onily 755 of the utilities expense und 60% of the insurance expense apply to factory operations. The remaining amounts should be charged to selling and administrative aclivities. Instructions a. Prepare a schedule of cost of goods manufuctured for October 2020. a. CGM HKS5,818,000 h. Prepare a cortect income statement for Oetober 2020 . b. NI HKS 20,000