The income statement, also known as a profit and loss (P\&L) statement, provides a sriapshot of a company's financial performance during a specified period of time. It reports a firm's gross income, expenses, net income, and the income that is avalable for distribution to its preferred and common shareholders: The income statcment is prepared using the generally accepted accounting principles (GAAP) that match the firm's revenues and expenses to the period in which they are incurred, not necessarily when cash is received or paid. Investors and analysts use the information presentied in the income statement, and the other financial statements and reports, to evaluate the company's financal performance and condition. Consider the following scenario: Fuzzy Button Clothing Company's income statement reports data for its first year of operation. The firm's CEO would like sales to increase by 25% next year: 1. Fuzzy Button is able to achieve this level of increased sales, but its interest costs increase from 10% to 15% of earnings before interest and taxes (EBIT). 2. The company's operating costs (excluding depreciabion and amortizotion) remain at 65,00% of net sales, and its depreciation and amortization expenses remain constant from year to year. 3. The company's tax rate remains constant at 40% of its pre-tax income or earnings before taxes (EBT). 4. In Year 2, Fuzzy Buttion expects to pay $100,000 and $2,432,700 of preferred and cornmon stock dividends, respectively. Complete the Year-2 income statement data for Fuzy Button, then answer the questions that follow. Round each dollar vafue to the nearest whole dollar