11. The budget versus actual income statement for the month of April is shown on the next page. Assume you are the vice-president of operations for New Star Software. Examine the statement. List four conclusions you might draw regarding company operations for the month of April. New Star Software Income Statement Budget vs. Actual For the month ended April 30, 20-- Actual Budget $ Over $100 000 $130 000 $(30 000) 25 000 30 000 (5000) 75 000 100 000 (25 000) Sales Cost of Goods Sold Gross Profit % Budget (23.1)% (16.7) (25.0) 20 000 (1 000) 50.0 (5.0) Product Development Expenses Marketing Expenses Administrative Expenses Total Operating Expenses 60 000 19 000 15 000 94 000 40 000 20 000 15 000 75 000 19 000 25.3 Net Income before Income Taxes (19 000) 25 000 (44000) (176.0) Income Taxes (25%) (4 750 * 6 250 (11 000 (176.0) Net Income $(14 250) $ 18 750 $(33 000) (176.0) decrease in the amount of income tax owing for the year