Ivanhoe Company has completed all of its operating budgets. The sales budget for the year shows 43,000 units and total sales of $1,935,000. The total unit cost of producing one unit is $25. Selling and administrative expenses are expected to be $258,000. Interest is estimated to be $8,600. Income taxes are estimated to be $172,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2022. Sales IVANHOE COMPANY Budgeted Income Statement For the Year Ending December 31, 2022 Cost of Goods Sold IN 1935000

Ivanhoe Company has completed all of its operating budgets. The sales budget for the year shows 43,000 units and total sales of $1,935,000. The total unit cost of producing one unit is $25. Selling and administrative expenses are expected to be $258,000. Interest is estimated to be $8,600. Income taxes are estimated to be $172,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2022. IVANHOE COMPANY Budgeted Income Statement For the Year Ending December 31, 2022 Sales Cost of Goods Sold 1935000