8) Champion Inc. reports the year-end information from 2018 as follows: Sales (100,000 units) Less: Cost of goods sold Gross profit Operating expenses (includes $20,000 of Depreciation) $500,000 300,000 200,000 120.000 $ 80.000 Net income Champion is developing the 2019 budget. In 2019 the company would like to increase selling prices by 10%, and as a result expects a decrease in sales volume of 5 %. Cost of goods sold as a percentage of sales is expected to increase to 62%. Other than depreciation, all operating costs are variable Required: Prepare a budgeted income statement for 2019. oto deoubore thu db M Amaranoothoon