3. Marketing managers at Home Office Systems, which markets word-processing software to the household consumer, are in the process of preparing annual forecasts and budgeting. Based on their analysis, the following are forecasted for the next year: Sales forecast $25,000,000 and 1,000,000 units Product line direct material and labor costs 50% of price Freight cost 8% of price Indirect manufacturing overhead $600,000 Administrative overhead $300,000 Sales force commission of 15% and administration of $3,000,000 Advertising/promotion production and media costs $300,000 Co-op advertising: production costs of $100,000 and discount allowance to retailers of 5% of sales You must do budgeting for Home Office Systems. Prepare a pro forma income statement using Microsoft Excel.