North Company has completed all of its operating budgets. The sales budget for the year shows 50,100 units and total sales of $2,100,000. The total unit cost of making one unit of sales is $22. Selling and administrative expenses are expected to be $301,000. Interest is estimated to be $10,000. Income taxes are estimated to be $200,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2020. NORTH COMPANY Budgeted Income Statement