Euclid Fashions. Inc., is introducing a sports jacket. A standard cost card has been prepared for the new jacket, as shown below: The following additional information relating to the new jacket is available: The only variable selling and administrative cost will be $8 per jacket for shipping. Fixed selling and administrative costs will be (per year): Because the company manufactures many products, no more than 57,800 direct labor-hours per year can be devoted to production of the new jackets. An investment of $1,230,000 will be necessary to carry inventories and accounts receivable and to purchase some new equipment. The company's required rate of return is 24%. Manufacturing overhead costs are allocated to products on the basis of direct labor-hours. Using the markup you have computed, prepare a price quote sheet for a single jacket. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Assume that the company is able to sell all of the jackets that it can produce. Prepare an income statement for the first year of activity