North 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 $12,150. Income taxes are estimated to be $220,200. Prepare a budgeted multiple-step income statement for the year ending December 31, 2020. NORTH COMPANY Rudaeted Income Statement NORTH COMPANY Budgeted Income Statement For the Year Ending December 31, 2020 Sales 2361300 Cost of Goods Sold (1171850) Gross Profit 1189450 Selling and Administrative Expenses (306300) 883150 Income from Operations Interest Expense Income Before Income Taxes (220200) Income Tax Expense Net Income /(Loss)