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Apple Inc. would like to have an estimate of the company's net income for 2021. Calculate Apple's net income in 2020 by completing the operating budgets and budgeted income statement that follow. 1. Sales budget: Apple Inc. Sales Budget For the Year Ended December 31, 2021 Quarter Year 17000 3000 5000 5000 Sales in its X Seling price per tant Total Sales 4000 55 $ 20,000.00 2. Production budget 4 Page of 9 ZOOM + 8. Budgeted Income Statement Apple in Budgeted Income Statement For the Year Ended December 31, 2021 Sales Cost of goods sold Fmed poods inestory, December 31, 2020 Cost of goods sanctured Cost of goods aanble for sale Less fired goods mestory, December 31, 2021 Cost of goods sold Grow Marger Selling and destra e escenes Income to operations Income taxes espease (30%" Net noe W Chapter 23. Syllabus for Untitled