Budgeted income statement and balance sheet the Accounting Department of Regina Soap Co.: remain unchanged from the balances at the beginning of the year. Budget estimates of manufacturing costs and operating expenses for the year are summarized as follows: common stock outstanding. It is anticipated that fixed assets will be purchased for $141,000 cash in May. 1. Prepare a budgeted income statement for 20Y9. Regina Soap Co. Budgeted Income Statement For the Year Ending December 31, 20Y9 Operating expenses: Selling expenses: Total selling expenses Administrative expenses: $ Thtal adminictrative oynoncoc Total administrative expenses Total operating expenses Income before income tax 2. Prepare a budgeted balance sheet as of December 31,20Y9. Regina Soap Co. Budgeted Balance Sheet December 31, 20Y9 Assets Current assets: Inventories: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Total property, plant, and equipment Total assets Liabilities Current liabilities: Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity