Shown Below Are the Totals from Period Budgets of Swanson

Shown below are the totals from period budgets of Swanson Corporation for the current year:
$\begin{array}{ll}\text{Revenue budget}&\$ 100,000 \\\text{Materials usage from production budget}&15,000 \\\text{Labor cost budget}&20,000 \\\text{Manufacturing overhead budget}&20,000 \\\text{General and administrative budget}&30,000 \\\text{Capital expenditure budget}&20,000 \\\text{Work in Progress Inventories:}&\\\text{Beginning of Year}&10,000 \\\text{End of Year}&5,000 \\\text{Finished Goods Inventory:}&\\\text{Beginning of Year}&15,000 \\\text{End of Year}&10,000\\\text {Tex Rate }&40\%\end{array}$ Required: Prepare a forecasted Income Statement for the current year: