Crane Company bodies and distributis 8-Lime, det soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2020, management estimate the following revenues and costs. Sales $1,750,000 Selling expenses-variable $96,500 Direct materials 450.000 Selling expenses-foed 63.000 Direct labor 360.000 Administrative expenses-variable 25,000 Manufacturing overheadable 380.000 Administravens -- fored 59.500 Manufacturing overbead-fied 110,000 Prepare a Cincome statement for 2020 based on management's some GILANE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 1750000 Cow Foods 1190000 CRANE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2020 Sales 1750000 Variable Expenses Cost of Goods Sold 1190000 $ Selling Expenses 96500 Administrative Expenses V 2600 Total Variable Expenses y 1289100 Contribution Margin 460900 Fixed Expenses 130000 Selling Expenses