Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs: Next year, Pietro expects to purchase $119, 300 of direct materials, projected beginning and ending inventories for direct materials and work in process are as follows. Next year, Pietro expects to produce 50,000 units and sell 49, .300 units at a price of $12, 50 each. Beginning inventory of finished good is $42, 500, and ending inventory of finished goods is expected to be $34,000. selling expense is projected at $26,000, and total administrative expense is projected at $134,000. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be routed to .8835 and entered as 88.35