Prepare Budgeted Financial Statements The following information is available for year 1 for Parker Products: Revenues (100,000 units) $725.000 Manufacturing costs Materials.. 42,000 Variable cash costs 35,600 Fixed cash costs. 81,900 Depreciation (fixed). 249,750 Marketing and administrative costs Marketing (variable, cash). 105,600 Marketing depreciation... 37,400 Administrative (fixed, cash) 127,300 Administrative depreciation. 18,700 Total costs.... 698,250 Operating profits S 26.750 All depreciation charges are fixed and are expected to remain the same for year 2. Sales volume is expected to increase by 18 percent, but prices are expected to fall by 5 percent. Materials costs are expected to decrease by 8 percent. Variable manufacturing costs are ex CS Scanned with CamScanner pected to decrease by 2 percent per unit. Fixed manufacturing costs are expected to increase by 5 percent Variable marketing costs change with volume. Administrative cash costs are expected to increase by 10 percent. Inventories are kept at zero. Prepare a budgeted income statement for year 2. Estimate the cash from operations expected in year 2. Required Estimate Cash Rece