Income StatementBob's Bistro produces party$-$sized hoagie sandwiches. For next year, Bob's Bistro predicts that $52,800$ units wil be producedwith the following total costs:Direct meterialsDirect laborVariable overheadFxed overhcadBeginningEndingNext year, Bob's Bistro expects to purchase $$121,900$ of direct materials. Projected beginning and ending inventories fordirect materials and work in process are as folows:Direct materialsSalesInventory$$7,000$$$6,900$Gross marginCost of qoods soldLess: Operating expenses$$64,000$Selling expenses$18,000$Next year, Bob's Bistro expects to produce $52,800$ units and sell $52,100$ units at a price of $t$3\mathrm{.}00$ each. Beginning inventoryot nnished goods is $$39,500,$ and ending inventory of finished goods s expected to be $$31,000.$ Total seling oxpense sprojected at $528,500,$ and total administrative experse is projected at $$119,500.$Administrative expenses$250,0001.$ Prepare an income statement in good form. Round the percent to four decimal places betpercentage. For example, $\mathrm{.}88349$ would be rounded to $\mathrm{.}8835$ and entered as $88\mathrm{.}35.$Operating incomeWork$-$in$-$ProcessInventory$$10,900$$$12,900$Bob's BistroIncome StatementFor the Coming Year$28,500119,500677,300148,000$VPercentL$0021,85$o