Prepari Oliver Company provided the following information for the coming year: Units produced and sold Cost of goods sold per unit Selling price Variable selling and administrative expenses per unit Fixed selling and administrative expenses Tax rate ing a Budgeted Income Statement 160,000 $6.30 $10.80 $1.10 $423,000 35% Required: Prepare a budgeted income statement for Oliver Company for the coming year. Round all income statement amounts to the nearest dollar Oliver Company Budgeted Income Statement For the Coming Year Sales . Cost of goods sold Gross margin Less: Variable selling and administrative expenses Less: Fixed selling and administrative expenses Operating income Less: Income taxes Net income