Develop a product specific Income Statement assuming production is done in house with the new equipment. (also referred to as Profit and Loss Statement, or P&L) The company would like to see the statement carried out over 5 years. Also, per pound data should be shown on each line of the P&L. Show the annual cash flow at the bottom of the income statement. 7 a. The company likes to see individual components of Cost of Goods Sold on separate lines of the P&L. The components are grouped into variable and fixed, with subtotals at each level, and they classify COGS according to: i. Raw Materials ii. Packaging Materials iii. Labor iv. Overhead - Separate line item for each category of Overhead