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Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year: Units produced and sold 1 6 0 , 0 0

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 $14
Variable selling and administrative expenses per unit $1.10
Fixed selling and administrative expenses $423,000
Tax rate 28%
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
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