Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers, who charge customers 75 cents per bottle. For the year 2017, management estimates the following revenues and costs. Sales Direct materials Direct labor Manufacturing overhead-variable Manufacturing overhead-fixed $1,800,000 430,000 360,000 380,000 280,000 Selling expenses-variable Selling expenses-fixed Administrative expenses-variable Administrative expenses-fixed $70,000 65,000 20,000 60,000 Prepare a CVP income statement for 2017 based on management's estimates. JORGE COMPANY CVP Income Statement (Estimated) For the Year Ending December 31, 2017 Sales $ Variable Expenses Cost of Goods Sold $ Selling Expenses Administrative Expenses Total Variable Expenses Contribution Margin Fixed Expenses Cost of Goods Sold Selling Expenses Administrative Expenses Total Fixed Expenses Net Income/(Loss) $