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 fixed overhead will be $6 per unit. Half of the fixed 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 fixed corporate support costs. (a) (b) Prepare a monthly income statement that highlights the proposed smart phone cover line's segment margin. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45).)