Vanna Co. produces and sells two products. T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year. the company sold 40000 units of each product. Sales and costs for each product follow. Product T Product O Sales $720.000 $ 720.000 Variable costs 576. 000 144.000 Contribution margin 144.000 576.000 Fixed costs 34.000 466.000 Income before taxes 110. 000 110.000 Income taxes (32% rate) 35. 200 35,200 Net income $ 74.800 $ 74.800 lem 21-5A Part 3 Assume that the company expects sales of each product to increase to 54.000 units next year with no change in unit sales price. Prepare forecasted financial results for next year following the format of the contribution margin income statement shown with columns for each of the two products (assume a 32% tax rate). (Enter all values as positive.) Variable cost Contribution margin Fixed costs Income (loss) before taxes Income taxes (tax benefit) Net income (loss)