Hello, I was hoping someone could look over my assignment to make sure I did the correctly. I attached two pictures, PC1 and PC2 to show the excel work. I also included the data from excel below to see as well. Any feedback would be great to let me know if anything needs to be changed.

Thanks!

Pierceton Cycling has produced the following data for use in the budgeting process: Budgeted sales (units) 1,890 Sales price (per unit) 745 Cost (per unit) 240 Variable selling and administrative expense (per unit) 105 Fixed selling and administrative expense (per year) S 335,000 Interest expense S 14,000 1. Prepare the budgeted income statement for the year1. Prepare the budgeted income statement for the year Budgeted Income Statement Sales (1890 * $745) 1,408,050 Cost of goods sold (1890 *$240) 453,600 Gross Margin 954,450 Selling and administrative expenses (1890 * 105) +33500 533,450 Net operating income 421,000 Interest expense 14,000 Net income 407,000 2. If the price of aluminum causes the cost per unit to increase by 5%, calculate the Net Income: Cost Price increase by 5% = $252 Sales (1890 * $745) = 1408050 Cost of goods sold (1890 *$252) =476280 Gross Margin =931770 Selling and administrative expenses = 533450 Net operating income = 398320 Interest expense = 14000 Net income = $384,320