Azizi Company provided the following information for the coming year: 160,000 Units produced and sold Cost of goods sold per unit $6.30 Selling price $14 Variable selling and administrative expenses per unit $1.10 Fixed selling and administrative expenses $423,000 Tax rate 23 % Required: Prepare a budgeted income statement for Azizi Company for the coming year. Round all income statement amounts to the nearest dollar. Azizi Company Budgeted Income Statement For the Coming Year Sales Less: Cost of goods sold Gross margin Less: Variable selling and administrative expenses Less: Fixed selling and administrative expenses Operating income Less: Income taxes Net income