From the following details from Koo Nimo T-Shirt Company prepare the Budgeted Income Statement showing The Gross Margin; Operating Income; Income before income taxes and the Net Income: When the company Sales at end of the year was $57,000 and the cost of goods sold was $39,617. The company incurred $8,650 in selling and administrative expenses and had interest expense of $60. The Income Taxes from the Federal and the State tax was 40%