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 15,400 units. equired: 2. Prepare flexible budgets at sales volumes of 14,400 and 16,400 units. The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgeted come statement if 18,400 units are sold. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ PHOENIX COMPANY } \\ \hline \multicolumn{5}{|c|}{ Flexible Budgets } \\ \hline \multicolumn{5}{|c|}{ For Year Ended December 31} \\ \hline & \multicolumn{2}{|c|}{ Flexible Budget } & \multicolumn{2}{|c|}{ Flexible Budget for: } \\ \hline & \begin{tabular}{c} Variable Amount \\ per Unit \end{tabular} & \begin{tabular}{l} Total Fixed \\ Cost \end{tabular} & \begin{tabular}{c} Units Sales \\ of 14,400 \end{tabular} & \begin{tabular}{c} Unit Sales of \\ 16,400 \end{tabular} \\ \hline & & & & \\ \hline \multicolumn{5}{|c|}{ Variable costs } \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \multicolumn{5}{|l|}{ Fixed costs } \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. The company's business conditions are improving. One possible result is a sales volume of 18,400 units. Prepare a simple budgeted income statement if 18,400 units are sold