Income Statement Bob's Bistro produces party sized hoagie sandwiches. For next year, Bob's Bistro predicts that 53,600 units will be produced with the following total costs Direct materials Direct labor $53,000 Variable overhead 26,000 Fixed overhead 195,000 Next year, Bob's Bistro expects to purchase 5125,000 of direct materials projected beginning and ending inventories for direct materials and work in process are as follows Direct materials Work in Process Inventory Inventory Beginning $4,000 $12,500 Ending $3,900 $14,500 Next year Bobs Bistro expects to produce 53,600 units and sell 57.900 units at a price of $14.00 each, Beginning inventory of finished goods is $44.500, and ending inventory finished goods is expected to be $36,000 Total sing expenses projected at $21,000, and total administrative expense is projected at $127.000 Required 1. Prepare an income statement in good form. Hound the percent to four decimal places before converting to a percentage. For example, .1849 would be rounded 3835 and entered as 8.35. ob's Bistro Income Statement ext year, Bob's Bistro expects to produce 53,600 units and sell 52,900 units at a price of $14.00 each Beginning inventory of finished goods is $44,500; and ending inventory of nished goods is expected to be $36,000 Total selling expense is projected at $21,000, and total administrative expenses projected at $127,000, Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example,89349 would be rounded to .8835 and entered as 88.35 Bob's Bistro Income Statement For the Coming Year Percent Sales 40,600 100 Cast of gods sold 10 Les Operating expense Selling expenses Administrative expenses 21.000 127.000 B Operating income Check