Drenare a hudoeter statement of rost of onods sold Budgeted data for the year 2025 include the following. To meet sales requirements and to have 2,350 units of finished goods on hand at December 31,2025 , the production budget shows 8,460 required units of output. The total unit cost of production is expected to be $18. Sunland uses the first-in, first-out (FIFO) inventory costing method. Interest expense is expected to be $3,290 for the year. Income taxes are expected to be 20% of income before income taxes. In 2025 , the company expects to declare and pay an $7,520 cash dividend. The company's cash budget shows an expected cash balance of $18,552 at December 31,2025 . All sales and purchases are on account. It is expected that 60% of quarterly sales are collected in cash within the quarter and the remainder is collected in the following quarter. Direct materials purchased from suppliers are paid 50% in the quarter incurred and the remainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. In 2025 , the company expects to purchase additional equipment costing $8,460. A total of $3,830 of depreciation expense on equipment is included in the budget data and split equally between manufacturing overhead and selling and administrative expenses. Sunland expects to pay $7,520 on the outstanding notes payable balance plus all interest due and payable to December 31 (included in interest expense $3,290, above). Accounts payable at December 31,2025 , includes amounts due suppliers (see above) plus other accounts payable relating to manufacturing overhead of $6,768. Unpaid income taxes at December 31 will be $4,700. Budgeted data for the year 2025 include the following. To meet sales requirements and to have 2,350 units of finished goods on hand at December 31,2025, the production budget shows 8,460 required units of output. The total unit cost of production is expected to be $18. Sunland uses the first-in, first-out (FIFO) inventory costing method. Interest expense is expected to be $3,290 for the year. Income taxes are expected to be 20% of income before income taxes. In 2025 , the company expects to declare and pay an $7,520 cash dividend. The company's cash budget shows an expected cash balance of $18,552 at December 31,2025 . All sales and purchases are on account. It is expected that 60% of quarterly sales are collected in cash within the quarter and the remainder is collected in the following quarter. Direct materials purchased from suppliers are paid 50% in the quarter incurred and the remainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. In 2025 , the company expects to purchase additional equipment costing $8,460. A total of $3,830 of depreciation expense on equipment is included in the budget data and split equally between manufacturing overhead and selling and administrative expenses. Sunland expects to pay $7,520 on the outstanding notes payable balance plus all interest due and payable to December 31 (included in interest expense $3,290, above). Accounts payable at December 31,2025 , includes amounts due suppliers (see above) plus other accounts payable relating to manufacturing overhead of $6,768. Unpaid income taxes at December 31 will be $4,700. Sunland Industries' balance sheet at December 31, 2024, is presented below. SUNLAND INDUSTRIES Balance Sheet December 31, 2024 Assets Current Assets Cash Accounts receivable Finished goods inventory (1,410 units) Total current assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation Total assets $7,050 69,090 22,560 98,700 Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $37,600 9.40028,200 $126,900 Prepare a budgeted statement of cost of goods sold. Sunland Industries' balance sheet at December 31, 2024, is presented below. SUNLAND INDUSTRIES Balance Sheet December 31, 2024 Assets Current Assets Cash $7,050 Accounts receivable 69.090 Finished goods inventory (1,410 units) 22.560 Total current assets 98,700 Property, Plant, and Equipment Equipment $37,600 Less: Accumulated depreciation 9.400 28,200 Total assets $126,900 Liabilities and Stockholders' Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $23,500 42,300 65,800 $37,600 23,500 61,100 $126,900 dgeted data for the year 2025 include the following