using the data below complete the budgeted income statement for 2016

. Sales: 40,000 units, unit selling price $50. Selling and administrative expenses: $200,000. Income taxes: 30% of income before income taxes. Cost of one unit of finished goods is $37 Walt Bach Company Budgeted Income Statement For the Year Ending December 31, 2016 Sales 1. Cost of goods sold 2. Gross profit 3. Selling and administrative expenses Income before income taxes 4. Income tax expense 5. Net income