Homework: ACC-260 Topic 3 Assignment Save Score: 0 of 30 pts 5 of 5 (1 complete) > HW Score: 0%, 0 of 100 pts P22-44A (similar to) Question Help Additional information Little Company has the following post closing trial balance on December 31, 2018: Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2019 Click the icon to view the budget information.) Rent and income tax expenses are paid se incurred. Insurance expense is an expiration of the prepaid amount Read the requirements i Data Table i Data Table Requirement 1. Prepare a budgeted Income statement for the quarter ended March 31, 2019 Little Company Budgeted Income Statement For the Quarter Ended March 31, 2019 $ 121,500 80,000 $0,750 Credit Gross Profit Selling and Administrative Expensee Little Company Post-Closing Trial Balance December 31, 2018 Account Debit Cash S 21.000 Accounts Receivable 19.0100 Merchandise Inventory 16,500 Prepaid Insurance 1.300 Equipment and Fixtures 45.000 Accumulated Depreciation $ $ Accounts Payable Salaries and Commissions Payable Common Stock Budgeted total sales, al on account Budgeted purchases of merchandise inventary, al an account Burgeted cost of goods sold Budgated seiling and administrative expenses Commissions expense Salaries experise rece Rent exaense Depreciation expanse Insurance expense Budgeted cash receips from customers Budgeted cash payments for merchandise inventory Bungated cash payments for salaries and commisions Budgeted Income tax expense 6,075 7,500 4,500 700 500 15,000 127,660 Ba,425 15,060 17,000 6,400 Tolal Selling and Administralive Expenses Operating Income (Less) 5,000 10.000 44.400 Retained Earnings Print Done S 102,200 $ 102,800 Choose from any list or enter any number in the input fields and then click Check Answ Totals 7 parts 2 remaining 2 Check Answer Print Done 4 * JUL 5 x P w ca tv