Bonita Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants have provided the following data:

	Product LN 35			Product LN 40
Sales budget
Expected volume in units		399,000		239,000
Unit selling price		$30		$34
Production budget
Desired ending finished good units		27,000		21,000
Beginning finished goods units		21,000		14,000
Direct materials budget:
Direct materials per unit (kilograms)		2		3
Desired kilograms of ending direct materials		52,000		17,000
Beginning kilograms of direct materials		38,000		11,000
Cost per kilogram		$2		$3
Direct labour budget
Direct labour time per unit (hours)		0.50		0.70
Direct labour rate per hour		$12		$12
Budgeted income statement
Total unit cost		$11		$20

An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expenses budget. The latter shows selling expenses of $852,000 for product LN 35 and $392,000 for product LN 40, and administrative expenses of $520,000 for product LN 35 and $181,000 for product LN 40. Income taxes are expected to be 30%.

Prepare the budgeted income statement for the year. (Note: Income taxes are not allocated to the products.)

BONITA INC. Budgeted Income Statement For the Year Ending December 31, 2022
		LN 35		LN 40		Total
select an income statement item Cost of goods available for salePurchasesIncome tax expenseSelling and administrative expensesBeginning inventoryEnding inventoryNet incomeGross profitCost of goods soldIncome before income taxesSalesNet loss		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
select an income statement item PurchasesEnding inventorySalesCost of goods soldNet lossIncome before income taxesCost of goods available for saleGross profitSelling and administrative expensesIncome tax expenseNet incomeBeginning inventory		enter a dollar amount		enter a dollar amount		enter a dollar amount
select a summarizing line for the first part SalesEnding inventoryNet lossNet incomeIncome before income taxesPurchasesCost of goods soldCost of goods available for saleGross profitSelling and administrative expensesIncome tax expenseBeginning inventory		enter a total amount for the first part		enter a total amount for the first part		enter a total amount for the first part
select between addition and deduction AddLess: select an income statement item Cost of goods soldSelling and administrative expensesNet incomeIncome tax expenseEnding inventoryCost of goods available for saleGross profitSalesBeginning inventoryNet lossPurchasesIncome before income taxes		enter a dollar amount		enter a dollar amount		enter a dollar amount
select a summarizing line for the second part Cost of goods soldPurchasesNet incomeBeginning inventoryIncome tax expenseSalesSelling and administrative expensesNet lossCost of goods available for saleIncome before income taxesEnding inventoryGross profit		$enter a total amount for the second part		$enter a total amount for the second part		enter a total amount for the second part
select an income statement item Selling and administrative expensesGross profitIncome tax expenseCost of goods available for saleNet lossCost of goods soldBeginning inventoryPurchasesIncome before income taxesNet incomeSalesEnding inventory						enter a dollar amount
select a closing name for this statement Net lossEnding inventoryNet incomeGross profitSelling and administrative expensesSalesPurchasesBeginning inventoryIncome before income taxesCost of goods available for saleCost of goods soldIncome tax expense						$enter a total amount for this statement

THIRD PART THIS IS THE THIRD PART OF THE QUESTION