Splish Brothers Company is a manufacturer of smartphones. Its controller resigned in October 2022. An inexperienced assistant accountant has prepared the following income statement for the month of October 2022. Splish Brothers Company Income Statement For the Month Ended October 31, 2022 Sales revenue $904,800 Lesc Operating expenses Raw materials purchases $306,240 Direct labor cost 220,400 Advertising expeme 104,400 Selling and administrative salaries 87,000 Rent on factory facilities 6/9,600 Depreciation on sales equipment 52.200 Depreciation on factory equipment 35,960 Indirect labor cost 32.480 Utilities expense 13,920 Insurance expense 9.200 931,480 Net loss $266800