mentiment Main.donosignment Section Locatorinprogress 0 udgeted Income Statement and Balance Sheet as a preliminary to requesting budget estimates of scouts, and expenses for the fiscal year beginning January 1, 2017, the following tentative trial balance as of December 31, 208, is prepared by the Accounting Department of Red . Cash $100,300 Accounts Receivable 190.400 Finished Good 40,000 Work in Process 26,700 Materials 43.800 Prepaid Expenses 3.200 Plant and Equipment 514,500 Accumulated Deprecation Plant and Equipment $221,00 Accounts Payable 155.500 Common stock, 510 par 300,000 Retained in 20,200 $920,000 $920,000 actory out and sales for 2019 are expected to total 25,000 units of product, which are to be sold at $120 per unit. The quantities and costs of the inventores at December 31, 209, are expected to remain unchanged from the eing of the Year udget estimates of mandaturing costs and operating expenses for the year are summarized as follows: Estimated costs and expenses Fixed Variable (Total for Year) (Per Unit Sold) Cost of gods manufactured and sold: Direct materials 30 Direct labor 9.5 Factory overhead Depreciation of plant and ement $25,000 Other factory overhead 7,800 5.5 Selling expenses: Sales salaries and commissions 89,800 15 Check My Work All work saved. desmentessin progresse 73,000 Miscellaneous sing expense 6,500 2.5 Administrative expenses Office and officers sales 59,000 7.5 Supps 3.000 1 1.600 2 aces of accounts receivable prepaid expenses and accounts payable at the end of the year are not expected to ferrificantly from the beginning balances Federal income tax of 1272,200 on 2009 taxable income will be paid during 2019 ately catheds of 51 per there are expected to be dedered and paid in March June, September, and December on 30,000 shares of common stock outstanding. It is noted that feeds will be purchased for $139,000 Required 1. Prepare a budete income statement for 2018 Regina Soap Budgeted Income Statement For the Year Ending December 31, 2019 Code Direct materials DOD Cost of dood Grosspot perating 100 eBook Calculator Print Item Assets Current assets: Inventories: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity mentiment Main.donosignment Section Locatorinprogress 0 udgeted Income Statement and Balance Sheet as a preliminary to requesting budget estimates of scouts, and expenses for the fiscal year beginning January 1, 2017, the following tentative trial balance as of December 31, 208, is prepared by the Accounting Department of Red . Cash $100,300 Accounts Receivable 190.400 Finished Good 40,000 Work in Process 26,700 Materials 43.800 Prepaid Expenses 3.200 Plant and Equipment 514,500 Accumulated Deprecation Plant and Equipment $221,00 Accounts Payable 155.500 Common stock, 510 par 300,000 Retained in 20,200 $920,000 $920,000 actory out and sales for 2019 are expected to total 25,000 units of product, which are to be sold at $120 per unit. The quantities and costs of the inventores at December 31, 209, are expected to remain unchanged from the eing of the Year udget estimates of mandaturing costs and operating expenses for the year are summarized as follows: Estimated costs and expenses Fixed Variable (Total for Year) (Per Unit Sold) Cost of gods manufactured and sold: Direct materials 30 Direct labor 9.5 Factory overhead Depreciation of plant and ement $25,000 Other factory overhead 7,800 5.5 Selling expenses: Sales salaries and commissions 89,800 15 Check My Work All work saved. desmentessin progresse 73,000 Miscellaneous sing expense 6,500 2.5 Administrative expenses Office and officers sales 59,000 7.5 Supps 3.000 1 1.600 2 aces of accounts receivable prepaid expenses and accounts payable at the end of the year are not expected to ferrificantly from the beginning balances Federal income tax of 1272,200 on 2009 taxable income will be paid during 2019 ately catheds of 51 per there are expected to be dedered and paid in March June, September, and December on 30,000 shares of common stock outstanding. It is noted that feeds will be purchased for $139,000 Required 1. Prepare a budete income statement for 2018 Regina Soap Budgeted Income Statement For the Year Ending December 31, 2019 Code Direct materials DOD Cost of dood Grosspot perating 100 eBook Calculator Print Item Assets Current assets: Inventories: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity