Required Informetlon 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 factorles and markets them through different channels. They have no shared costs. This year, the company sold 50,000 units of each product. Sales and costs for each product follow. Product $2,88e,888 1,688,88 Product o $2,88e,888 258,88 1,758,88e 1,475,88e 275,80 Sales Variable costs Contribution margin Fixed costs Income before taxes Income taxes (32% rate) Net income 480.88e 125,88e 275,80 88,88e 88,88e $ 187,88e $ 187,88e 2. Assume that the company expects sales of each product to decline to 30,000 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 32% tax rate). Also, assume that any loss before taxes yields a 32% tax benefit. (Enter losses and tex benefits, If any, as negetive velues.) HENNA CO. Forecasted Contribu tion Margin Income Statement Total Product T Product O $ Per unit Total $ Per unit Total Units Contribution margin Net income (loss)