Please answer part C.

Budgeted data for the year 2025 include the following. To meet sales requirements and to have 2,950 units of finished goods on hand at December 31,2025 , the production budget shows 10,620 required units of output. The total unit cost of production is expected to be $18. Coronado uses the first-in, first-out (FIFO) inventory costing method. Interest expense is expected to be $4,130 for the year. Income taxes are expected to be 20% of income before income taxes. In 2025 , the company expects to declare and pay an $9,440 cash dividend. The company's cash budget shows an expected cash balance of \$32,280 at December 31, 2025. All sales and purchases are on account. It is expected that 60% of quarterly sales are collected in cash within the quarter and the remainder is collected in the following quarter. Direct materials purchased from suppliers are paid 50% in the quarter incurred and the remainder in the following quarter. Purchases in the fourth quarter were the same as the materials used. In 2025, the company expects to purchase additional equipment costing $10,620. A total of $4,910 of depreciation expense on equipment is included in the budget data and split equally. between manufacturing overhead and selling and administrative expenses. Coronado expects to pay $9,440 on the outstanding notes payable balance plus all interest due and payable to December 31 (included in interest expense $4,130, above). Accounts payable at December 31, 2025, includes amounts due suppliers (see above) plus other accounts payable relating to manufacturing overhead of $8,496. Unpaid income taxes at December 31 will be $,900. Prepare a retained earnings statement for 2025. (List items that increase retained earnings first.) (b) Prepare a budgeted multiple-step income statement for 2025. Prepare a budgeted statement of enst of annde enld Coronado Industries' balance sheet at December 31,2024, is presented below. CORONADO INDUSTRIES Budgeted Retained Earnings Statement Income from Operations Retained Earnings, 12/31/25 Retained Earnings, 1/1/25 Cost of Goods Sold Interest Expense Sales Revenue Net Income/ (Loss) Gross Profit Selling and Administrative Expenses Income before Income Taxes Income Tax Expense Dividends