drop down options :

• Accounts receivable
• Accumulated depreciation
• Advertising
• Beginning merchandise inventory
• Cash
• Commissions
• Common stock
• Cost of goods sold
• Depreciation
• Direct labor
• Direct materials
• Ending merchandise inventory
• Equipment
• Fixed manufacturing overhead
• Indirect labor
• Indirect materials
• Interest expense
• Inventory
• Manufacturing overhead
• Note payable
• Prepaid insurance
• Purchases
• Retained earnings
• Sales
• Selling and administrative expenses
• Variable manufacturing overhead

Sig Harbor Boating is the wholesale distributor of a small recreational catamaran sallboat. Management has prepared the followng ummary data to use in its annual budgeting process: Required: Prepare the company's budgeted Income statement for the year