Jameson Company provided the following information for the coming year:

Units produced and sold........................................230,000

Cost of goods sold per unit........................................$5.30

Selling price..........................................................$9.70

Variable selling and administrative expenses per unit.........$1.60

Fixed selling and administrative expenses..................$387,000

Tax rate................................................................35%

Required:

Prepare a budgeted income statement for Jameson Company for the coming year.