9 Sheffield Company has completed all of its operating budgets. The sales budget for the year shows 63,000 units and total sales of $2,835,000. The total cost of producing one unit is $20. Selling and administrative expenses are expected to be $378,000. Interest is estimated to be $12,600. Income taxes are estimated to be $252,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2022. SHEFFIELD COMPANY Budgeted Income Statement Selling and Administrative Expenses Gross Profit Ending Inventory Operating Expenses Beginning Inventory Net Income /(Loss) Total Operating Expenses Purchases Interest Expense Sales Income from Operations Cost of Goods Sold Income Tax Expense Income Before Income Taxes

Sheffield Company has completed all of its operating budgets. The sales budget for the year shows 63,000 units and total sales of $2,835,000. The total cost of producing one unit is $20. Selling and administrative expenses are expected to be $378,000. Interest is estimated to be $12,600. Income taxes are estimated to be $2,52,000. Prepare a budgeted multiple-step income statement for the year ending December 31.2022