Centent Asuets Cant Accosents merivable Finhicet poods imetory (1.200 usib) Total current ansets $6.000 58.800 19.200 84,000 Proprrty, Plant, and Festifernt Equipuent $32,000 Les: Accumalatrd derpeciation Fotal asets 800024,000 $108.000 t.abisires and Sockhoblen' Equity Lintifites Notes provile Accounts payale Tonal tabilitios Sorkholden' E gutry Common stock. Reanint earmings Total unchthiden' equity Total llabanies and ancthelbors $20,000 36,000 56,000 $32000 20.000 52,000 $108,000 Budgeted data for the year 2022 include the following To meet sales requirements and to have 2,000 units of finished goods on hand at Decerrber 31, 2022, the production budget shows 7,200 required units of output. The total unit cost of production is expected to be $18. Crano uses the first-in. first-out (FIFO) inventory costing method. Interest expense is expected to be 32.800 for the year. Income taves are expected to be 200 , of income before income taxes. In 2022 , the company expects to declare and pay an $6,400 cash dividend. The company's cash budget shows an expected cash balance of $10,544 at December 31,2022 . All sales and purchases are on account. It is expected that 608 of quarterfly sales are collected in casb within the quarter and the remainder 5 collected in the following quarter. Direct materials purchased from suppliers are pald SOK in the cuarter incurred and the relfainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. in 2022, the compary expects to purchase additional equipment costing $7,200,$3,200 of depreclation expense on equipment is included in the budget data and split equally between manufacturing overhead and selfing and administrative expenses. Crane expects to pay $6,400 on the outstanding notes payable balance plus alt interest due and payable to December 31 lincluded in interest expense $2.800, abovel. Accounts payable at December 31. 2022, includes amounts due suppliers (see above) plus other accounts payable relating to manufacturing overhead ot $,760. Ungald income taves at December 31 will be $4,000. Prepare a budgeted statement of cost of goods sold