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C. Prepare a budgeted income statement, assuming 600units to be produced and sold, a per unit selling price of $85, anincome tax rate of 28% and the following information.Cost of goods sold of $35 per unitLabor = $400/monthOne part-time employee will be hired to take care ofpackaging and shipping. This employee will be paid $10 per hour. Heor she is estimated to work 40 hours total per month.Advertising fees = $3,000Bank fees = $200Phone/internet = $150 per monthShipping = $3 per unitUtilities = $100 per monthOffice Supplies = $900Conference Exhibitor Fee = $3000Travel Expenses for Conference (e.g. airfare, meals,taxi) = $1200Based on the budgeted income statement calculated abovefor 20XY, create a new budgeted income for 20XZ assuming that theproduction and sales is double the level of 20XY.