For the Year Ended December 31, 2019 Unit sales 1,300 $ Sales Revenue ($400 per unit) Cost of Goods Sold (45% of sales) 520,000 234,000 Gross Profit 286,000 52,000 Selling and Administrative Expenses (10% of sales) $ 234,000 Operating Income 1. Prepare a budgeted income statement with columns for 700 units, 1,300 units, and 1,700 units sold. 2. How might managers use this type of budgeted income statement? 3. How might spreadsheet software such as Excel assist in this type of analysis? Rucker Company Budgeted Income Statement For the Year Ended December 31, 2019 Unit sales 700 Sales Revenue Cost of Goods Sold Gross Profit Selling and Administrative Expenses Operating Income