A&P is interested in predicting its income statement for the year 2021. The company estimates that its soles ABP Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 1450000 Foed cost 10000 Gross profit 540000 Less: Operating expenses Seling expense (all variable 20000 Utlity expense (al variable 34000 Depreciation expense all variable 5000 Operating prort 480000 Less Interest expense of Fixed 12000 Net profit before taxe: 468000 Les: Taxes 10% 26300 Net profiterer taxes 21200 43: Torel cost of goods sold in 2021 39. Depreciation Excene in 2021: 43:"ool cercengecenin 2021 Neprofotexei2021 Time left 1:24:12 A&P is interested in predicting its income statement for the year 2021. The company estimates that its sales in 2021 will be $3500000. Using the fixed and variable cost data, Find the following: A&P Company Income statement For the Year Ended December 31, 2020 Sales 2000000 Less: Cost of goods sold Variable cost 7450000 Fixed cost 10000 540000 20000 Gross profit Less: Operating expenses Selling expense (all variable) Utility expense (all variable) Depreciation expensefall variable) Operating profit Less: Interest expense all fixed) Net profit before taxes 34000 6000 480000 12000 468000 LESS: Operating expenses Selling expense (all variable) Time left 1:24:0 20000 Utility expense (all variable) 34000 6000 480000 Depreciation expense (all variable) Operating profit Less: Interest expense ( all fixed) Net profit before taxes Less: Taxes (10%) Net profit after taxes 12000 468000 46800 421200 A&P's Total cost of goods sold in 2021: A&P's Depreciation Expense in 2021: A&P's Total operating expenses in 2021 A&P's Net profit after taxes in 2021