North Company has completed all of its operating budgets. The sales budget for the year shows 50,220 units and total sales of $2,190,100. The total unit cost of making one unit of sales is $24. Selling and administrative expenses are expected to be $305,300. Interest is estimated to be $10,000. Income taxes are estimated to be $203,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2017.

North Company expects credit sales for January, February, and March to be $202,100, $264,200, and $319,300, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month.

NORTH COMPANY Budgeted Income Statement > $