Prepare an income statement for the year ended December 31, through the gross profit for Baxter Company using the following information. Baxter Company sold 8,600 units at $125 per unit. Normal production is 9,000 units. Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance.) 
Definitions:
Valuable Broach
A piece of jewelry, especially a large decorative pin or clasp, that is considered of high monetary or sentimental value.
Legal Claim
A demand for rights or properties due to a dispute brought before a court.
Rightful Owner
The individual or entity that legally possesses property or rights, typically recognized through ownership documents or legal actions.
Temporary Possession
The condition of holding or controlling property or goods for a limited period without claiming ownership.
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