Lamonte Company reports the following budgeted December 31 adjusted trial balance. Debit Credit Cash $ 54,000 Accounts receivable 124,000 Merchandise inventory 68,000 Equipment 129,000 Accumulated depreciationEquipment $ 29,000 Accounts payable 38,000 Loan payable 26,000 Common stock 210,000 Retained earnings (beginning year balance) 64,000 Sales 524,000 Cost of goods sold 364,000 Loan interest expense 12,000 Depreciation expense 14,000 Salaries expense 126,000 Totals $ 891,000 $ 891,000 Prepare the budgeted income statement for the current year ended December 31. Ignore income taxes.