please fill out Absorption Income Statement sheet

INVENTORY ACCOUNTS Finished Goods Inventory \begin{tabular}{|c|c|c|c|c|c|} \hline & 4th Quarter & 1st Quarter & 2nd Quarter & 3rd Quarter & 4th Quarter \\ \hline & 2023 & 2024 & 2024 & 2024 & 2024 \\ \hline Ending units & 0 & 15,000 & 19,000 & 20,000 & 16,000 \\ \hline \multicolumn{6}{|l|}{ Raw Materials Inventory } \\ \hline Beginning units on 1/1/2024 & 41,368 & pounds & & & \\ \hline Planned Ending units on 12/31/2024 & 26,000 & pounds & & & \\ \hline Policy & 25.00% & of next quarters'need & eds for production is i & in ending Raw Mat & terials Inventory \\ \hline \end{tabular} \begin{tabular}{|c|c|} \hline Work In Process Inventory & \\ \hline Beginning value 1/1/2024 & 231,720 \\ \hline Planned Ending value on 12/31/2024 & 231,720 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ Payment for Raw Materials } \\ \hline Payment Policy & 85.00% & quarter of purchase \\ \hline & 15.00% & quarter following purchase \\ \hline \end{tabular} OPERATNG EXPENSES \begin{tabular}{|c|c|c|c|c|} \hline UTNG EXPENSES & ? & & & \\ \hline \multicolumn{5}{|l|}{ Wages and Salaries Payment } \\ \hline Payment Policy & 2 & \multicolumn{2}{|c|}{ times monthly on the 15 th and 30 th } & \\ \hline & & \multicolumn{2}{|l|}{ Fully paid each month } & \\ \hline & & & & \\ \hline \multirow[t]{2}{*}{ Variable Selling 8 Administrative Exp. } & 2.50% & of selling price & & + \\ \hline & & & + & \\ \hline \multicolumn{5}{|l|}{ Fxed Selling \& Administrative Exp } \\ \hline Depreciation & 55,000 & per quarter & . & \\ \hline Other Selling \& Administrative Exp & 180,000 & per quarter & & \\ \hline & & & & \\ \hline \multicolumn{5}{|l|}{ TAL EXPENDITURES } \\ \hline & 1st Quarter. & 2nd Quarter & 3rd Quarter & 4th Quarter \\ \hline & 2024 & 2024 & 2024 & 2024 \\ \hline Equipment Purchases & $500,000,00 & $1,000,000,00 & $2,000,000,00 & $5,450,000,00 \\ \hline \end{tabular} TREASURY ACTIVIIISS \begin{tabular}{|c|c|c|c|c|} \hline & Ist Quarter & 2nd Quarter & 3rd Quarter & 4th Quarter \\ \hline & 2024 & 2024 & 2024 & 2024 \\ \hline Dividends to be Declared & $250,000,00 & $300,000.00 & $400,000.00 & $700,000.00 \\ \hline Minimum Cash Balance & 250,000 & Required at end of ev & very quarter & \\ \hline \end{tabular} Interest Rate for Investing (short-term) 4.25% Annually interest Policy All of the ending cash balance for the quarter earns interest for the entire quarter All of the ending cash balance for the quarter remains in Cash at the beginning of the next quarter Interest Aate for borrowing 12.00% Annually increments are used in borrowing and repayment, maintaining the minimum cash balance Borrowing occurs at the beginning of the quarter. Repayments occur at the end of the year. FLECIBLE BUDGET Actual Units Produced USEVALUE FROM PRODUCTION BUDGET Flexible Budget - Analyse at Additional Production Levels \begin{tabular}{l|l|l} Production level 1 & units \\ \hline Production level 2 & onits \end{tabular} PRIOR YEAR RESULTS Wheels \& Widgets inc. \begin{tabular}{|c|c|c|} \hline & \multicolumn{2}{|c|}{ Balance Sheet } \\ \hline & & 31/2023 \\ \hline \multicolumn{3}{|l|}{ ASSETS } \\ \hline Cash & $ & 6,150,000 \\ \hline Inventory & s & 3,748,000 \\ \hline Accounts Recelvable (net) & $ & 5,050,000 \\ \hline \multirow[t]{2}{*}{ Plant and Equipment } & $ & 29,400,000 \\ \hline & $ & 44,348,000 \\ \hline \multicolumn{3}{|l|}{ LLABIUINES ANO EQUITY } \\ \hline Accounts Payable & $ & 8,100,000 \\ \hline Common Stock & $ & 26,234,500 \\ \hline \multirow[t]{2}{*}{ Retained Earnines } & $ & 10,013,500 \\ \hline & s & 44,348,000 \\ \hline \end{tabular}