Economics (26 marks total): Your product is now ready to take to market. Full Access Corp. has asked you to help them understand their financial situation. Provide information in the appropriate areas below (show your work for partial marks-type out your work, or paste hand written images) Q20. In its first year of production (2022), Full Access Corp. plans to produce and sell 250,000 units of the product at $8 per unit. The current production costs are $5.50 per unit (materials and labour). Full Access Corp. forecasts an additional $13,000 in distribution costs, as well as $17,000 in electricity bills, $22,000 in administrative salaries, $3,000 in general overhead costs, $5,000 in equipment rental, and $8,000 in depreciation costs. Full Access Corp. will borrow $100,000 at a nominal interest rate of 8% compounded annually to purchase new equipment, and must pay a 22% income tax rate. a. (4 marks) Produce a table that identifies and classifies Full Access Corp.'s different costs. Cost Description # 1 2 3 4 5 6 7 8 9 Classification b. (6 marks) Produce Full Access Corp.'s income statement at the end of the current year and determine the gross profit, operating income, earnings before taxes and net income. Gross Profit: Operating Income: Income Statement