I See The Light Projected Income Statement For the Period Ending December 31, 20x1 Sales Cost of Goods Sold Gross Profit Selling Expenses: Fixed 25,000 lamps @ $45.00 @ $30.00 $ 23,000.00 Variable (Commission per unit) @ $3.00 75,000.00 $ 98,000.00 Administrative Expenses: Fixed Variable @ $2.00 $ 42,000.00 50,000.00 92,000.00 Total Selling and Administrative Expenses: Net Profit $ 1,125,000.00 750,000.00 $ 375,000.00 190,000.00 $ 185,000.00