Income Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 53,400 units will be produced with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead ? $69,000 20,000 245,000 Next year, Bob's Bistro expects to purchase $123,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Inventory Work-in-Process Inventory $10,000 Beginning Ending $4,000 $3,900 $12,000 Next year, Bob's Bistro expects to produce 53,400 units and sell 52,700 units at a price of $13.00 each. Beginning inventory of finished goods is $42,500, and ending inventory of finished goods is expected to be $34,000. Total selling expense is projected at $20,500, and total administrative expense is projected at $122,500. Required: 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. Bob's Bistro