Sown below are the totals from period budgets of Terrell corporation for the current year:

Revenue budget $100,000

Materials usage from production budget $15,000

Labor Cost Budget $20,000

Manufacturing overhead budget $20,000

General and Administrative budget $30,000

Capital expenditure budget $20,000

Work in process inventories:

Beginning of year $10,000

End of Year $5,000

Finished Goods inventory:

Beginning of year $15,000

End of Year $10,000

Tax Rate 40%

Required: Prepare a forecasted after tax Income Statement for the current year, be sure to show gross margin (GM), and profit before tax (PBT) and profit after tax (PAT).