Oliver Company provided the following information for the coming year:

Units produced and sold

$160,000$

Cost of goods sold per unit

$$6\mathrm{.}30$

Selling price

$$14$

Variable selling and administrative expenses per unit

$$1\mathrm{.}10$

Fixed selling and administrative expenses

$$423,000$

Tax rate

$23\%$

Required:

Prepare a budgeted income statement for Oliver Company for the coming year. Round all income statement amounts to the nearest dollar$-$

Oliver Company

Budgeted Income Statement

For the Coming Year