Budgeted Income statement

Prepare Budgeted Financial Statements
(LO 13-6)
Cycle-1 is a fast-growing start-up firm that manufactures bicycles. The following income statement is available for October:
Sales revenue (300 units @ $600 per unit)$180,000LessManufacturing costsVariable costs26,000Depreciation (fixed)27,540Marketing and administrative costsFixed costs (cash)67,500Depreciation (fixed) 22,860Total costs$143,900Operating profits $36,100Sales volume is expected to increase by 20 percent in November, but the sales price is expected to fall 10 percent. Variable manufacturing costs are expected to increase by 4 percent per unit in November. In addition to these cost changes, variable manufacturing costs also will change with sales volume. Marketing and administrative cash costs are expected to increase by 8 percent.
Cycle-1 operates on a cash basis and maintains no inventories. Depreciation is fixed and should remain unchanged over the next three years.
Prepare a budgeted income statement for November.