Part 11: Income Statement {2 Marks) Budgeted Income Statement - September 30, 2022 Quarter Sales Cost of Goods Sold Gross Margin Selling 84 Administrative Expense Operating Income Interest Expense Net Income Part 12: Balance Sheet (2 Marks) INFT has land purchased at $1,050,000, Equipment of $751,335.61 Common Shares at $600,000 Retained Earnings $902, 485.71 Budgeted Balance Sheet - September 30, 2022 Quarter Current Assets Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property & Equipment Land Equipment Total Property & Equipment Total Assets Accounts Payable Common Shares Retained Earnings Total Liabilities & Equity