Prepare a 4.vear sumumarized income statement for each of the following assumptions: (1) The old elevator is retained. (2) TNe old elevator is rejuced. industry equipment exhibition where he watched a computerized elevator demonstrated. He was impressed with the elevator's speed, comfort of ride, and cost efficiency. Upon returning from the exhibition, he asked his purchasing afent to collect price and operating cost data on the new elevator. In addition, he asked the company's accountant to provide him with cost data on the compary's elevator. This informaticn is presented here annual revenues are $241,000 and seling and administrative expenses are $28,000, regardless of which elevator is used. If the oid elevator is replaced now, at the aeginning of 2022. Richter Condos will be able to sellit for $26000