Vinson Company provided its post-closing trial balance for December 31, 2024 and budgeting information for the first quarter of 2025. It pays 70% of direct materials purchases in the quarter purchased and 30% in the next quarter. It pays direct labor, overhead, selling, administrative costs, and taxes in the quarter incurred. It also pays accounts payable balances from December 31, 2024 in the first quarter of 2025. The requirements are to prepare Vinson's budgeted income statement for Q1 2025 and its budgeted balance sheet as of March 31, 2025.

1. Vinson Company has the following post-closing trial balance on December 31,2024 : Additional
information: (Click the icon to view the post-closing trial balance.) a. Direct materials purchases
are paid 70% in the quarter purchased and 30% in the next quarter. The company's accounting
department has gathered the following budgeting information for the first quarter of 2025: b.
Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense
are paid in the quarter (Click the icon to view the budgeting information.) c. Accounts payable at
December 31, 2024 are paid in the first quarter of 2025 . Read the requirements. Requirement 1.
Prepare Vinson Company's budgeted income statement for the first quarter of 2025. Data table
Requirements 1. Prepare Vinson Company's budgeted income statement for the first quarter of
2025. 2. Prepare Vinson Company's budgeted balance sheet as of March 31, 2025.
V/incon Company has the following post-closing trial balance on December 31,2024 :
Additional information: (Click the icon to view the post-closing trial balance.) 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 The company's accounting department has gathered the following budgeting information
for the first quarter of 2025: (Click the icon to view the budgeting information.) c. Accounts
payable at December 31,2024 are paid in the first quarter of 2025 . Read the Requirement 1.
Prepare Vinson Company's budgeted income statement for the first quarter of 2025. Data table