Cute Camel woodcraft Company's income statement reports data for its first year of operation. The firm's CEO would like sales to increase by 25% next year 1, Cute Camel is able to achieve this level of increased sales, but its interest costs increase from 10% to 15% of earnings before interest and taxes (EBIT) 2. The company's operating costs (excluding depreciation and amortization) remain at 75% of net sales, and its depreciation and amortization expenses remain constant from year to year 3. The company's tax rate remains constant at 40% of its pre-tax income or earnings before taxes (EBT) 4. In Year 2, Cute Camel expects to pay $200,000 and $416,925 of preferred and common stock dividends, respectively Complete the Year 2 income statement data for Cute Camel, then answer the questions that follow. Round each dollar value to the nearest whole dollar Cute Camel Woodcraft Company Income Statement for Year Ending December 31 Year 2 Year 1 (Forecasted) Net sales $10,000,000 7,500,000 400,000 $2,100,000 210,000 1,890,000 756,000 $1,134,000 200,000 934,000 340,200 $593,800 Less: Operating costs, except depreciation and amortization Less: Depreciation and amortization expenses 400,000 Operating income (or EBIT) Less: Interest expense Pre-tax income (or EBT) Less: Taxes (40%) Earnings after taxes Earnings available to common shareholders Contribution to retained earnings Less: Preferred stock dividends Less: Common stock dividends $772,825