The following information is available for 2021 for BAM Incorporated: $1,600,000 100,000 125,000 300,000 80,000 200,000 Revenue (200,000 units) 180,000 20.000 Manufacturing costs: Materials cash costs Variable overhead cash costs Fixed overhead cash costs Manufacturing depreciation Marketing and administrative costs: Variable marketing cash costs Marketing depreciation Administrative Administrative depreciation Total costs Operating income 50,000 $1.055,000 $545.000 All depreciation charges are expected to remain the same for 2022. Sales volume is expected to increase by 25 percent, but prices are expected to fall by 10 percent. Material costs are expected to decrease by 10 percent. Variable manufacturing overhead cash costs are expected to decrease by 10 percent per unit. Fixed manufacturing cash overhead costs are expected to increase by 10 percent. Variable marketing costs change with volume. Administrative cash costs are expected to increase by 5 percent. Inventories are kept at zero. Required: Prepare a budgeted income statement for 2022.