Azizi Company provided the following information for the coming year:
Units produced and sold ...................................................... 160,000
Cost of goods sold per unit ................................................... $6.30
Selling price .................................................................... $10.80
Variable selling and administrative expense per unit ...................... $1.10
Fixed selling and administrative expenses .................................. $423,000
Tax rate ......................................................................... 35%
Required:
Prepare a budgeted income statement for Azizi Company for the coming year. (Note: Round all income statement amounts to the nearest dollar.)