Millennia Atlantic University ACCT 521- Managerial Accounting Homework # 6 Dr. George E. Febres You are the President of Box Creations. Your new accountant, who recently graduated from Notsogood University, presented you with the following Income Statement for the month of January 2023: Revenue: Sales $500,000 Total January expenses 495,000 Net Income $ 5,000 By talking to the production departments, you learn that 60,000 units were produced in January a cost of $420,000 (total product costs). The Sales Department reports that 50,000 units were sold at a price of $10 each. Marketing expenses incurred in January totaled $30,000 and G 8: A expenses totaled $45,000. Required: a. Based upon the above information, prepare a corrected Income Statement for January in good form. b. Explain what was wrong with the new accou ntant's Income Statement