Question 4 of 16 View Policies Current Attempt in Progress Kalven Company has budgeted the following for the year 2020: /4 1 1 Sales: 47,600 units: unit selling price $76. 2 Cost of one unit of finished goods: direct materials, 2 kg at $4 per kilogram; direct labour, 4 hours at $12 per hour; and manufacturing overhead, $2 per direct labour hour. 3 Selling and administrative expenses: $144,000 4 Income taxes: 25% of income before income taxes. Prepare a budgeted income statement for 2020. KALVEN COMPANY Budgeted Income Statement For 2020 Sales Grass profit