Required Information [The following information applies to the questions displayed below.] Gulf States Manufacturing has the following data from year 1 operations, which are to be used for developing year 2 budget estimates: 51, Beece $ 321, eee 439, 177,080 217,00 Sales revenues (20,000 units) Manufacturing costs Materials Variable cash costs Fixed cash costs Depreciation (fixed) Marketing and administrative costs Marketing (variable, cash) Marketing depreciation Administrative (fixed, cash) Administrative depreciation Total costs Operating profits 232,000 57,000 228,000 $ 20. see $1,691,600 $ 109,000 All depreciation charges are fixed. Old manufacturing equipment with an annual depreciation charge of $16,350 will be replaced in year 2 with new equipment that will incur an annual depreciation charge of $22,800. Sales volume and prices are expected to increase by 15 percent aru 4 percent, respectively. On a per-unit basis, expectations are that materials costs will increase by 13 percent and variable manufacturing costs will decrease by 3 percent. Fixed cash manufacturing costs are expected to decrease by 10 percent Variable marketing costs will change with volume. Administrative cash costs are expected to increase by 11 percent. Inventories are kept at zero. Guif States operates on a cash basis Required: Prepare a budgeted income statement for year 2. (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amounts.) UD Proy of 8 Next > 06AENG 11:30 AM 4/23/2021 work and Help Save & EX Submit percent Variable marketing costs will change with volume. Administrative cash costs are expected to increase by 11 percent. Inventories are kept at zero. Gulf States operates on a cash basis. Required: Prepare a budgeted income statement for year 2 (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amounts.) GULF STATES MANUFACTURING Budgeted Income Statement For Year 2 Manufacturing costs Total manufacturing costs Marketing and administrative costs Total marketing and administrative costs e Prov