eBOOK Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year: Units produced and sold 160,000 Cost of goods sold per unit $6.30 $13 Selling price Variable selling and administrative expenses per unit Fixed selling and administrative expenses $1.10 $423,000 Tax rate 33 % Required: Prepare a budgeted income statement for Oliver Company for the coming year. Round all i Oliver Company Budgeted Income Statement For the Coming Year Sales 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