Waterway Company has completed all of its operating budgets. The sales budget for the year shows 64,000 units and total sales of $2,880,000. The total cost of producing one unit is $25. Selling and administrative expenses are expected to be $384,000. Interest is estimated to be $12,800, Income taxes are estimated to be $256,000 Prepare a budgeted multiple-step income statement for the year ending December 31, 2022 WATERWAY COMPANY Budgeted Income Statement