Fultz Company has accumulated the following budget data for the year 2020 . 1. Sales: 31,160 units, unit selling price $88. 2. Cost of one unit of finished goods; direct materials 1 pound at $5 per pound, direct labor 3 hours at $13 per hour, and manufacturing overhead $7 per direct labor hour. 3. Inventories (raw materials only): beginning, 10,190 pounds; ending, 15,240 pounds. 4. Selling and administrative expenses: $170,000; interest expense: $30,000. 5. Income taxes: 30% of income before income taxes. Computation of Cost of Goods Sold For the Year Ending December 31, 2020 Cost of one unit of finished goods: Direct materials Direct labor Manufacturing overhead Total Cost of Goods Sold $ 2025400 i Prepare a budgeted multiple-step income statement for 2020. Question 3 of 5 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) $