Spring 2023 D Question 13 10 pts Home Announcements Foodie's Supply Company manufactures and sells a pesticide called Account Modules Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2030. Textbook Dashboard 1. Sales: Discussions 1. Expected units sales are: 10,000 bags for quarter 1 and quarter 2's sale is Courses Grades going to increase by 10% of the quarter 1's sale. Syllabus 2. Selling price is $50 per bag. 2. Cost of each bag is $20. Calendar BC Peer Tutoring 3. Desired inventory levels are: 46 1. January 1 (Beginning of Quarter 1), 2,000 bags NetTutor Inbox 2. April 1 (Beginning of Quarter 2), 2,500 bags Renegade Hub for 3. July 1 (Beginning of Quarter 3), 3,000 bags. Canvas Help! 4. HINT: Ending inventory in one period becomes beginning inventory in the History Writing Center following period. In other words, your beginning inventory for one period was ending inventory for the previous period. 4. Selling and administrative expenses are expected to be 10% of sales revenue plus Studio $30,000 per quarter. ? 5. Interest expense is $100,000 and income taxes are expected to be 25% of Help income before income taxes. Prepare the budgeted multiple-step income statement for the first 6 months (first two quarters). . When typing your responses for amounts, do NOT include a dollar sign. K For example, if your answer is $10,000, you should be typing 10,000 or 10 000 00 WSpring 2023 Budgeted Income Statement Home Foodie's Supply Company Announcements Income Statement Account Modules For the Six Months Ending June 30, 2030 Textbook to Dashboard Sales Revenue Discussions Cost of Goods Sold to Courses Grades Syllabus Gross Profit $ Calendar BC Peer Tutoring 46 Selling and Administrative to NetTutor Expenses Inbox Renegade Hub for Canvas Help! Income from Operations $ History Writing Center Interest Expense to Studio Income before Income Tax to ? Help Income Tax Expense Net Income / (Loss) $ K