2024 Cache Company has the following post-closing a balance on December 31, Click toon to view the post-closing vial balance) The company's accounting department has gathered the following budgeting niformation for the first quarter of 2025 em Click the icon to view the budgeting information) Abonal information Direct materials porchases are paid 70% in the quarter purchased and 30% in the next b. Direct labor, marutacturing overhead, seing and administrative costs, and income tax expense are paid in the quarter incurred Accounts payable at December 31, 2024 are paid in the first quarter of 2025, Read the requirements Credit Requirement 1. Prepare Cooke Company's budgeted income statement for the first quarter of 2025 Cooke Company Budgeted Income Statement Data table For the Quarter Ended March 31, 2025 Sales Revenge Cost of Goods Sold Cooke Company Gross Pratt Pou-Closing Trial Balance Selling and Administrative Expenses December 31, 2024 Account income before Income Tax Debit Cash $ 14.000 Income Tax Expense Accounts Receivable 17.900 Not income Raw Materials inventory 10000 Finished Goods Inventory 20 000 Equipment 140.000 Accumulated Depreciation 5 Accounts Payable Common Stock Retained Earnings Totals 5 207.000 $ 70,000 9.000 90.000 38.900 297.900 Data table 5 305.500 33.000 2400 700 1.200 71000 Budsted to all on account Budget de materials to be purchased and used Budad de labor cost Budgeted manufacturing overhead costs Variable manufacturing overhead Depreciation Insurance and property Budgeted cost of goods so Budgeted selling and administrative expenses Salones pense Rendere Incense Depreciation pense Supples expert Budgeted cash registrom customers Budgeted come tax ex Budgeted purchase and more 9.000 500 200 300 1527 um 300 Check