Required Informatlon The following Information applies to the questions displayed below. Henna Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company sold 52,000 units of each product Sales and costs for each product follow Sales Variable costs Contribution margin Fixed costs Income before taxes Income taxes (32% rate) Net income Product T $ 842,400 673,920 168,480 26,480 142,000 49,700 $ 92,300 Product O $ 842,400 168,480 673,920 531,920 142,000 49,700 $ 92,300 2. Assume that the company expects sales of each product to decline to 35,000 units next year with no change in unit selling price Prepare forecasted financial results for next year following the format of the contribution margin Income statement as just shown with columns for each of the two products (assume a 35% tax rate). Also, assume that any loss before taxes yields a 35% tax benefit. (Round "per unlt" answers to 2 declmal places. Enter losses and tax benefits, If any, as negatlve values.) HENNA CO Forecasted Contribution Margin Income Statement Product T Product O Total Units S Per unit Total $ Per unit Total Sales ariable cost Contribution margin Fixed costs Income before taxes Income taxes (tax benefit) Net income (loss) 35,000 35,000 35,000 16.20 $ 567,000 0$ 567,000 531,920 558,400 26,480 (26,480) 49,700 (26,480) 49,700