20 e 8

8 Part 1 of 2 8 points Required information The following information applies to the questions displayed below! Lamonte Company reports the following budgeted December 31 adjusted trial balance. Debit Credit Cash $ 55,600 Accounts receivable 123,600 Merchandise inventory 67,600 Equipent 120,600 Accumulated depreciation Equipment 20,600 Accounts payable 37.600 Loan payable 25,600 Common stock 209,000 Betained carnings (beginning year balance) 63,400 Sales 523,600 Coat of goods sold 363,600 Loan Interest expense 11,600 Depreciation expense 13,600 salaries expense 125.600 Totale $ 80,000 5.887,000 00 Beerences Prepare the budgeted Income statement for the current year ended December 31. Ignore income taxes. LAMONTE COMPANY Dudgeted Income Statement For Year Ended December 31 Gross profit Selling general and administrative expenses