Required information [The following information applies to the questions displayed below.] Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,000 units. Required: I\&2. Prepare flexible budgets at sales volumes of 14,000 and 16,000 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. Prepare a simple budgeted ncome statement if 18,000 units are sold. PHOENIX COMPANY Flexible Budgets For Year Ended December 31 PHOENIX COMPANY Budgeted Income Statement For Year Ended December 31