Prepare an income statement for the year ended December 31, through the gross profit for Baxter Company using the following information: Baxter Company sold 8,600 units at $150 per unit. Normal production is 9,000 units. (Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance.) Standard: 5 yards per unit at $6.30 per yard Actual yards used: 43,240 yards at $6.25 per yard Standard: 2.75 hours per unit at $16.00 Actual hours worked: 23,400 at $15.90 per hour Standard: variable overhead $1.05 per unit Standard: fixed overhead $198,000 (budgeted and actual amount) Actual total factory overhead: $236,000 answer and sow every steps please (how to do it)