Question 2 (20 Points) Edgar Technologies Inc is a Toronto based family-owned company making hi tech printers. They have customers locally and nationally. The company's projected income statement based on their expected 25,000 units of printer sales for August 2022 is as follows: Projected INCOME STATEMENT Sales revenue $2,875,000 Variable expenses: Cost of goods sold 1,249,950 Sales commissions 287,500 Utilities expense 143,750 Fixed expenses: Salary expense 255,000 Amortization expense 26,000 Rent expense 40,000 30,000 Utilities expense Operating income $842,800 The current manufacturing capacity of Edgar Technologies Inc is 32,500 printers. However, if their actual volume exceeds their capacity of 32,500 printers, the company needs to expand their operational facility. Upon expansion, some of their costs would increase as follows: Salaries would increase by 30%, amortization would increase by 25%, and rent by 50%. No increase on their fixed utilities. Requirement: Complete a projected income statement for Edgar Technologies Inc showing production output levels of 25,000, 30,000 and 40,000 printers, using both the information provided above, and the table below. Answer Space: SALES REVENUES VARIABLE COSTS: Cost of Goods Sold Sales Commissions Utilities Expense Total Variable Costs CONTRIBUTION MARGIN FIXED COSTS: Salary Expense Amortization Expense Rent Expense Utilities Expense Total Fixed Costs Operating Income 2022 PROJECTED INCOME STATEMENT $ PER UNIT 25,000 Output units 30,000 40,000