Problem 2-80 (Algo) Reconstruct Financial Statements (LO 2-1, 2, 6) Melville Manufacturing produces metal components for automotive suppliers. Financial records for September show the following: Administrative salaries Depreciation on the administrative building Depreciation on the manufacturing plant Direct labor Direct materials inventory, September 1 Direct materials inventory, September 30 $ 2,634,000 1,151,000 1,759,000 4,701,500 1,078,200 1,244,000 Direct materials purchased during the month Distribution costs Finished goods inventory, September 1 8,965,000 666,000 1,651,000 1,378,500 Finished goods inventory, September 30 Indirect manufacturing labor 551,000 Insurance (on manufacturing plant) 62,200 Legal fees 505,300 Maintenance (on the manufacturing plant) 224,400 Manufacturing plant utiities 793,100 Marketing costs 758,250 Other manufacturing plant costs 639,880 Sales revenue Taxes (on manufacturing plant and property) 22,663,920 224,600 Work-in-process inventory, September 1 412,250 405,700 Work-in-process inventory, September 30 Required: a. Prepare a cost of goods manufactured and sold statement. b. Prepare an income statement. Complete this question by entering your answers in the tabs below. COGM and COGS statement Income statement Prepare a cost of goods manufactured and sold statement. Melville Manufacturing Cost of Goods Manufactured and Sold Statement For the Month Ending September 30 b. Prepare an income statement. Complete this question by entering your answers in the tabs below. COGM and COGS statement Income statement Prepare an income statement. Note: Loss amounts should be indicated with a minus sign. Melville Manufacturing Income Statement For the Month Ending September 30 Total operating costs < COGM and COGS statement Income statement >