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You are provided with the following historical financial information based on 30 June 2023 financial statements of ABC Company: - Gross profit: $7,520,000 - Gross profit margin: 55% - Operating income margin: 5% - Net income margin (before tax): 3.5% - Corporate tax rate: 30% - Debtor collection period: 50 days - Creditors payment period: 70 days - Stock turnover days: 100 days ABC Company also provides you with the following budget information for the period 1 July 2023 to 30 June 2024: - Sales: $14,000,000 - Opening stock 1 July 2022: $800,000 - Closing stock 30 June 2023: $500,000 - Cost of sales: $4,200,000 - Operational expenses: $8,000,000 - Debtor collection: 30 days =50% and 60 days =50% - Creditor payment: 30 days =25%,60 days =25%, and 90 days =50%. a. Complete the income statement of ABC Company. Show your workings. (5 marks) Income Statement for the year ended 30 June 2023 Use the information above to complete the table and comment on the realism of the budgeted figures of ABC Company by considering the historical figures and the fact that the business is operating in a very competitive market