Crane Company has completed all of its operating budgets. The sales budget for the year shows 53,000 units and total sales of $2,385,000. The total cost of producing one unit is $20. Selling and administrative expenses are expected to be $318,000. Interest is estimated to be $10,600. Income taxes are estimated to be $212,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2022. CRANE COMPANY Budgeted Income Statement For the Year Ending December 31, 2022 Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Income from Operations Interest Expense Income Before Income Taxes Income Tax Expense Net Income/(Loss) $ 2385000