10 and Chamy Lamonte Company reports the following bugeted December 31sted trane Part 50.00 120.14 6.000 8.33 A receivable ere we Tigt Amated depreciation Loan be CA Matinalais) Sales coat o pod Loeten Dept 125,00 1. 100,00 10.00 52.00 160.00 4,00 19,00 11,00 . Totale 1,0 10 Prepare the budgeted income ment for the current year ended December 3 ignore income 5000 DOO CAMONTE COMPANY Budete comment For Your December 31 Sales Cost of Gris prol Singland we Sepse Depreciation expense Loan ME Required information [The following information applies to the questions displayed below.) Lamonte Company reports the following budgeted December 31 adjusted trial balance. Credit Debit $ 50,000 120,000 64,000 125,000 Cash Accounts receivable Merchandise inventory Equipment Accumulated depreciation-Equipment Accounts payable Loan payable Common stock Retained earnings (beginning year balance) Sales Cost of goods sold Loan interest expense Depreciation expense Salaries expense Totals $ 25,000 34,000 22,000 200,000 58,000 520,000 360,000 8,000 10,000 122,000 $ 859,000 $ 859,000 Prepare the budgeted Income statement for the current year ended December 31, Ignore income taxes 3.33 Joints LAMONTE COMPANY Budgeted Income Statement For Year Ended December 31 eBook Sales $ 50,000 Print 8,000 References Cost of goods sold Gross profit Selling, general and administrative expenses Salaries expense Depreciation expense 0 Loan interest expense Net income $ 0