Prior to October 2022, the company had been profitable 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: 2. Only 77% of the utilities expense and 51% 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. Prepare a correct income statement for October 2022. (Enter negative amounts using either a negative sign preceding the number es. -45 or parentheses eg. (45).) Prepare a schedule of the cost of goods manufactured for October 2022. Question 4 of 4 /4 Sheridan Company is a manufacturer of computers. Its controller resigned in October 2022. An inexperienced assistant accountant has prepared the following income statement for the month of October 2022. Prior to October 2022, the company had been profitable 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: 2. Only 77% of the utilities expense and 51% 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. Prepare a correct income statement for October 2022. (Enter negative amounts using either a negative sign preceding the number es. -45 or parentheses eg. (45).) Prepare a schedule of the cost of goods manufactured for October 2022. Question 4 of 4 /4 Sheridan Company is a manufacturer of computers. Its controller resigned in October 2022. An inexperienced assistant accountant has prepared the following income statement for the month of October 2022