Need help with the second part! Please!

Sosa Company has the following post-closing trial balance on December 31, 2018 E (Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2019 E (Click the icon to view the budgeting information.) Additional information: a. Direct materials purchases are paid 70% in the quarter purchased and 30% in the next quarter, b. Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter incurred. C. Accounts payable at December 31, 2018 are paid in the first quarter of 2019. Read the requirements Data Table Requirement 1. Prepare Sosa Company's budgeted income statement for the first quarter of 2019. Requirements 1. Prepare Sosa Company's budgeted income statement for the first quarter of 2019. 2. Prepare Sosa Company's budgeted balance sheet as of March 31, 2019. Credit Sosa Company Budgeted Income Statement For the Quarter Ended March 31, 2019 Sales Revenue $ 309,500 Cost of Goods Sold 71,200 Gross Profit 238,300 Selling and Administrative Expenses 24,785 Income before Income Taxes 213,515 Income Tax Expense 47,000 166,515 Net Income Done Sosa Company Post-Closing Trial Balance December 31, 2018 Account Debit Cash 20,000 Accounts Receivable 20,300 Raw Materials Inventory 7,000 Finished Goods Inventory 26,000 Equipment 110,000 Accumulated Depreciation Accounts Payable Common Stock Retained Earnings $ 183,300 $ Totals Requirement 2. Prepare Sosa Company's budgeted balance sheet as of March 31, 2019. 25,000 10,500 100,000 47,800 Sosa Company Budgeted Balance Sheet March 31, 2019 183,300