Create a single step income statement on the proposal using excel. Write a recomendation on the proposal in the form of a memo. Describe any concerns you have related to the proposal

You are presented with the following information and business strategy proposal about a company. You will be required to create a single-step income statement based on the proposal, write a recommendation on the proposal in the form of a memo, and describe any concerns you have related to the proposal. You should use excel to create your income statement and word to write your memo. The income statement for the current year is: The senior sales executive has proposed that the company can increase sales by offering sales promotions. The sales promotions would be in the form of coupons, rebates, and FOB shipping. The proposal estimates that sales will increase by 10%, this increase will also increase the ratio of cost of goods sold to sales to 65%. The sales promotions associated selling expenses will increase from $135,0000 to $155,000. Current shipping is FOB destination, costing $28,000. Other expenses are expected to remain the same wit the exception of store supplies, miscellaneous selling, office supplies and miscellaneous administrative expenses, these are expected to increase proportionately with the increased sales. The preceding items which are included within current year selling expenses and administrative expenses ar as follows from October 31,20Y6 : Store supplies expense $16,000 Office supplies expense $5,000 Miscellaneous selling expense $3,000 Miscellaneous administrative expense $3,000