Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year

Preparing a Budgeted Income Statement 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 Required: 160,000 $6.30 $14 $1.10 $423,000 18 % 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 Gross marain Less: Variable sellinq and administrative expenses Less: Fixed sellina and administrative exoenses iLess: Income taxes Net income 423,000