1. Prepare an absorption format income statement for the three levels of volume provided in the basic data table. Be sure to include a proper heading.

2. Prepare a supporting schedule to compute the Cost of Goods Sold (COGS). The schedule should provide the details of the items that must be included in COGS with a separate line for each cost that has its name and its amount and total.

3. Prepare a supporting schedule to compute Operating Expenses. The schedule should provide the details of the items that must be included in the expenses with a separate line for each cost that has its name and its amount and a total.

For the Fiscal Year Ending December 31, 2023
	Most-Likely	Best-Case	Worst-Case
Expected Sales in Units	159,000	190,800	135,200
Revenue and Costs:	Per Unit	Per Year
Selling Price	$ 43.70
	Variable	Fixed
Direct Materials	$ 8.83
Direct Labor	4.50
Manufacturing Overhead	3.67	$ 239,800
Sales Salaries and Commissions	2.36	319,700
Other Selling Expenses	0.92	439,600
General and Administrative Expenses	0.57	999,100