Swifty Company has completed all of its operating budgets. The sales budget for the year shows 54,000 units and total sales of $2,430,000. The total cost of producing one unit is $25. Selling and administrative expenses are expected to be $324,000. Interest is estimated to be $10,800. Income taxes are estimated to be $216,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2025.

Swifty Company has completed all of its operating budgets. The sales budget for the year shows 54,000 units and total sales of $2,430,000. The total cost of producing one unit is $25. Selling and administrative expenses are expected to be $324,000. Interest is estimated to be $10,800. Income taxes are estimated to be $216,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2025. Income Before Income Taxes Ending Inventory Sales Selling and Administrative Expenses Total Operating Expenses Operating Expenses Gross Profit Income from Operations Purchases Beginning Inventory Cost of Goods Sold Interest Expense Income Tax Expense Net Income / (Loss)