Compile the budgeted income statement using the attached Financial Fact Sheet for your company.

Revenue from sales

Cost of goods sold

Gross profit

Total cost for all overhead

Total cost for all selling & administrative budget

Income from operations

Interest revenue

Interest expense

Income before income tax

income tax

Net income

Financial Facts Estimated Next Quarter Profit (Loss) (in millions) 15,000 7,000 3,000 Operating Expenses Desired units to be sold Desired units in ending inventory Estimated units in beginning inventory Selling and Administrative Budget Sales salaries Advertising expenses Travel Officer expenses Supplies Total cost for all selling and administrative budget Other revenue and expenses Interest Expense Interest Revenue 36,914 S 2,071 349 S Materials Direct Materials Cost including labor $ 7 Expected Unit Sales Price Products S 10 Income Tax Rate Tax Rate 21%