Requirements 1. Prepare Puckett Company's budgeted income statement for the first quarter of 2025 2. Prepare Puckett Company's budgeted balance sheet as of March 31, 2025 . Data table Data table Requirement 1. Prepare Puckett Company's budgeted income statement for the first quarter of 2025. Additional information: a. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter. b. Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter incurred. c. Accounts payable at December 31,2024 are paid in the first quarter of 2025