Please help thanks!

On August 1, Gordon's Jewelry purchased a futures contract for delivery of 300 ounces of gold in October at a price of $1,600 per ounce. On September 30, the spot price of gold is $1,630 per ounce. On October 1, the company settles the futures contract and purchases the 300 ounces of gold at the prevailing spot price of $1,630 per ounce. On December 15, the company sells the finished products (jewelry). Required: 1. Calculate the value of the futures contract on September 30. 2. Provide the journal entries recorded on October 1 for (a) settlement of the contract and (b) purchase of the commodity in the spot market. 3. What is the net hedged cost of the gold purchased? 4. In what month is the company's net income impacted by the gain or loss on the futures contract