Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decim and final answer to O decimal places, e.g. 1,255.) Sales BLOSSOM FARM SUPPLY COMPANY Budgeted Income Statement Cost of Goods Sold Gross Profit Selling and Administrative Expenses Income from Operations Interest Expense Income Before Income Tax Income Tax Expense Net Income /(Loss) LA LA 4270000 992500 100000 IN 1 15 C

Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decim and final answer to 0 decimal places, es. 1,255.) Blossom farm Supply Compary manufactures and sells a pesticide called Snare. The following dats are avalable for preparing budgets for Snare for the first 2 quarters of 2022. 1. Sales: quarter 1,28,000 bags: quarter 2,42,000 bags. Sellins price in $61 per bas. 2. Direct materials: each bag of Snare requires 4 pounds of Gumm at acost of $4 per pound and 6 pounds of Tarr at 51.50 per pound: 3. Desiredimentorylevels: 4. Direct labor direct labor time is 15 minutes per bag at an hourly rate of 516 per hour 5. Selling and administrative expernes are expetied to be 15% of sales plus 5176,000 per quarter 6. Interest expense is $100,000. 7. Income taxes are expected to be 20s of income betore income taves: Your assistant has prepared two budgets: (1) the manuf acturing ovechead budget shows epected costs to be izs\% of direct luber