[The following information applies to the questions displayed below.] Lamonte Company reports the following budgeted December 31 adjusted trial balance. Debit Credit Cash $ 53,400 Accounts receivable 123,400 Merchandise inventory 67,400 Equipment 128,400 Accumulated depreciation-Equipment $ 28,400 Accounts payable 37,400 Loan payable 25,400 Common stock 208,500 Retained earnings (beginning year balance) 63,100 Sales 523,400 Cost of goods sold 363,400 Loan interest expense 11,400 Depreciation expense 13,400 Salaries expense 125,400 Totals $ 886,200 $ 886,200 8. Award: 3.75 points Prepare the budgeted income statement for the current year ended December 31. Ignore income taxes