Prepare an income statement for the year ended December 31 through the gross profit for Baxter Company using the following information. Eaxter Coinpany. sold 9,000 units at $145 per unit Normal production is 9,400 units, (Do not round the fixed overhead rate computation when determining the fixed factory overhead volume variance. Enter favorable variances as negative numbers.) Baxter Company Income Statement Through Gross Profit For the Year Ended December 31 Sales Cost of goods sold-at standard Gross profit-at standard Unfavorable Favorable Less variance adjustments to gross profit-at standard: Direct materials price Direct materials quantity Direct labor rate Direct labor time Factory overhead controllable Factory overhead volume Net variance from standard cost-unfavorable Gross profit