Income Statement

Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that $50,000$ units will be produced, with the following total costs:

Next year, Pietro expects to produce $50,000$ units and sell $49,300$ units at a price of $$12\mathrm{.}50$ each. Beginning inventory of finished goods is $$42,500,$ and ending inventory

of finished goods is expected to be $$34,000.$ Total selling expense is projected at $$26,000,$ and total administrative expense is projected at $$134,000.$

Required:

Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, $\mathrm{.}88349$ would be rounded to

$\mathrm{.}8835$ and entered as $88\mathrm{.}35$

Note: due to rounding, percentages may not add down.

Pietro Frozen Foods, Inc.

Income Statement

For the Coming Year

For the Coming Year