The following data were taken from the records of Arseneault Company for December: Required: Prepare an income statement for presentation to management. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter all amounts as positive numbers except favorable variances. Use a minus sign to indicate favorable variances. A colon () will automatically appear for you if it is required. Labels and Amount Descriptions Labels For the Month Ended December 31 For the Year Ended December 31 Variance adjustments to gross profit at slandard Operating expenses Other expense Amount Descriptions Administrative expenses Add net favorable variance from slandard Cost of goods sold-at slandard Depreciation of plant and equipment Direct labor rale Direct labor time Direct materials price Direct malerials quantity Fixed factory overhead volume Gross profit Gross profit-at standard Income before income tax Income from operations Cost of goods sold-at standard Depreciation of plant and equipment Direct labor rate Direct labor time Direct materials price Direct materials quantity Fixed factory overhead volume Gross profit Gross profit-at standard Income before income tax Income from operations Insurance and property taxes Interest expense Loss before income tax Loss from operations Less net unfavorable variance from standard Sales Selling expenses Variable factory overhead controllable Prepare an income statement for presentation to management. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries Enter all amounts as positive numbers except favorable variances. Use a minus sign to indicate favorable variances. A colon (i) will automatically appear for you if it is required. 6(Label)5 Unfavorable Favorable 7 8 9 10 11 12 13 14 15 (Label) 16 17 18 19 (Label) 20 21