1. Prepare a budgeted income statement with columns for 1,400 units, 1,500 units, and 1,900 units sold. 2. How might managers use this type of budgeted income statement? 3. How might spreadsheet software such as Excel assist in this type of analysis? Flanagan Company prepared the following budgeted income statement for 2019: (Click the icon to view the budgeted income statement.) Read the requirements. Data Table Requirement 1. Prepare a budgeted income statement with columns for 1,400 Flanagan Company Budgeted Income Statement For the Year Ended December 31, 2019 Flanagan Company Budgeted Income Statement For the Year Ended December 31, 2019 Unit sales 1,400 Sales Revenue Cost of Goods Sold Gross Profit Selling and Administrative Expenses Unit sales 1,500 Sales Revenue ($650 per unit) $ 975,000 633,750 Cost of Goods Sold (65% of sales) Gross Profit 341,250 146,250 Operating Income Selling and Administrative Expenses (15% of sales) 195,000 Operating Income Print Done