Benfer Corporation's budgeA company's beginning income tax liability plus its budgeted income tax minus its budgeted income tax for the period equals its budgeted ending income tax liability ted sales for the upcoming quarter are $800,000. Its supporting budgets and schedules show a beginning finished goods inventory of $30,000, budgeted cost of goods manufactured of $310,000, and a projected ending finished goods inventory of $50,000. Its selling and administrative budget project expenses of $320,000, its budgeted interest expense is $15,000, and its tax rate averages 40%. 1. The company's budgeted gross profit for the upcoming quarter is $ . 2. The company's budgeted income before taxes for the upcoming quarter is $ . 3. The company's budgeted income taxes for the upcoming quarter are $ . 4. The company's budgeted net income for the upcoming quarter is $?

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