Sheridan Truff designs and manufactures a variety of personal products including wallets. purses. and key chains. Sheridan is proposing to begin manufacturing smart phone covers which sell for $29 each. Sheridan estimates that monthly sales volume will be 9,200 units. Variable product costs will be $16.20 per unit and xed overhead will be $6 per unit. Half of the xed overhead is directly traceable to the smart phone cover line. To promote the covers, Sheridan proposes a $1 per unit commission to the company's salespeople and a $8.200 per month advertising campaign. In compliance with corporate policy. the smart phone cover line will also be allocated $15,700 in xed corporate support costs. (3} Prepare a traditional monthly income statement for the smart phone cover line. {Enter negative amounts using either a negative Sign preceding the number eg. -45 or parentheses 8.3. (45).} SheridanTruff Monthly Income Statement She Monthly I V Gross margin Fixed Commissions Sales revenue Variable Corporate support Cost of goods sold Advertising Operating income / (loss) Operating expenses V