2. (50 pts) Use the following income statement along with the accompanying additional information to prepare a monthly operational budget for Tom's Business. Additional Information: Sales are anticipated to increase by 5% each month Cost of Goods Sold will remain at its current percentage of sales Rent is going up to $550 per month next year Wages should run at 6% of sales Utilities and auto maintenance will remain the same Advertising will increase by 10% in the same months as the current year According to your 2020 operational budget: a. What are your estimated sales for January 2020? b. What is your estimated cost of goods sold for January 2020 ? c. What is your estimate in wages for January 2020 ? d. What is your estimate in advertising expense for March 2020? e. What is your estimated net income for January 2020