Cymbal E$-$Motors is a fast$-$growing start$-$up firm that manufactures electric motors for bicycles. The following income statement is

available for April:

Sales volume is expected to increase by $30$ percent in May, but the sales price is expected to fall $5$ percent. Variable manufacturing

costs are expected to increase by $7\mathrm{.}5$ percent per unit in May. In addition to these cost changes, variable manufacturing costs also will

change with sales volume. Marketing and administrative cash costs are expected to increase by $15$ percent.

All revenues and costs at Cymbal are cash transactions, except for depreciation. Cymbal maintains no inventories. Depreciation is

fixed and is forecast to remain unchanged in the next six months.

Required:

Prepare a budgeted income statement for May.

Note: Do not round intermediate calculations.