Preparing a Budgeted Income Statement

Oliver Company provided the following information for the coming year:

Units produced and sold 160,000

Cost of goods sold per unit $6.30

Selling price $13

Variable selling and administrative expenses per unit $1.10

Fixed selling and administrative expenses $423,000

Tax rate 23 %

Required:

what is 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