Grouper Company has completed all of its operating budgets. The sales budget for the year shows 50,950 units and total sales of $2,361,300. The total unit cost of making one unit of sales is $23. Selling and administrative expenses are expected to be $306,300. Interest is estimated to be $10,000. Income taxes are estimated to be $220,200.

Prepare a budgeted multiple-step income statement for the year ending December 31, 2017.

GROUPER COMPANY Budgeted Income Statement