how to do this income statement?

Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 2017 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $17 Direct labor 12 Factory overhead $212,200 9 Selling expenses: Sales salaries and commissions 44,100 4 Advertising 14,900 Travel 3,300 Miscellaneous selling expense 3,600 3 Administrative expenses: Office and officers' salaries 43,100 Supplies 5,300 1 Miscellaneous administrative expense 5,020 2 Total $331,520 $48 1. Prepare an estimated income statement for 2017. Belmain Co. Estimated Income Statement For the Year Ended December 31, 2017 Sales Cost of goods sold: Direct materials Direct labor Factory overhead Total cost of goods sold Gross profit Expenses: Selling expenses: Sales salaries and commissions Advertising 14,900 Travel 3,300 Miscellaneous selling expense Total selling expenses Administrative expenses: office and officers' salaries Supplies Miscellaneous administrative expense Total administrative expenses Total expenses Operating income Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to maintain the same inventories at the end of 2017 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows: Estimated Estimated Variable Cost Fixed Cost (per unit sold) Production costs: Direct materials $17 Direct labor 12 Factory overhead $212,200 9 Selling expenses: Sales salaries and commissions 44,100 4 Advertising 14,900 Travel 3,300 Miscellaneous selling expense 3,600 3 Administrative expenses: Office and officers' salaries 43,100 Supplies 5,300 1 Miscellaneous administrative expense 5,020 2 Total $331,520 $48 1. Prepare an estimated income statement for 2017. Belmain Co. Estimated Income Statement For the Year Ended December 31, 2017 Sales Cost of goods sold: Direct materials Direct labor Factory overhead Total cost of goods sold Gross profit Expenses: Selling expenses: Sales salaries and commissions Advertising 14,900 Travel 3,300 Miscellaneous selling expense Total selling expenses Administrative expenses: office and officers' salaries Supplies Miscellaneous administrative expense Total administrative expenses Total expenses Operating income