Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,000,000 Costs Direct materials 960,000 Direct labor 240,000 Sales staff commissions 60,000 DepreciationMachinery 305,000 Supervisory salaries 204,000 Shipping 225,000 Sales staff salaries (fixed annual amount) 248,000 Administrative salaries 415,000 DepreciationOffice equipment 193,000 Income $ 150,000

Required: The companys business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted income statement if 18,000 units are sold.