Please complete budgeted income statement for image provided.Sunland Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets

for Snare for the first $2$ quarters of $2025.$

Sales: quarter $1,28,200$ bags; quarter $2,43,400$ bags. Selling price is $$63$ per bag.

Direct materials: each bag of Snare requires $4$ pounds of Gumm at a cost of $$4$ per pound and $6$ pounds of Tarr at $$1\mathrm{.}50$ per

pound.

Desired inventory levels:

Direct labor: direct labor time is $15$ minutes per bag at an hourly rate of $$16$ per hour.

Selling and administrative expenses are expected to be $15\%$ of sales plus $$177,000$ per quarter.

Interest expense is $$100,000$ for the $2$ quarters.