Income Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 55,000 units will be produced with the following total costs: Next year, Bob's Bistro expects to purchase \\( \\$ 123,500 \\) of direct materials. Projected beginning and ending inventories fo direct materials and work in process are as follows: Next year, Bob's Bistro expects to produce 55,000 units and sell 54,300 units at a price of \\( \\$ 15.00 \\) each. Beginning inventory of finished goods is \\( \\$ 48,500 \\), and ending inventory of finished goods is expected to be \\( \\$ 40,000 \\). Total selling expense is projected at \\( \\$ 26,500 \\), and total administrative expense is projected at \\( \\$ 107,500 \\). 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to .8835 and entered as 88.35 . 2. What if the operating expenses percentage for the past few years was 50.89 percent? Management's reaction might be