2 B.2.A. The budget committee of Red Rose Company has the following data for preparing budgeted income statement for January 2022. Sales amount is expected to be $700,000. Cost of goods sold is expected to be 75% of sales Operating expenses are estimated to be: Sales Salaries Advertising Delivery expense Sales Commissions Rent expense Depreciation Utilities Insurance $ 30,000 5% of the monthly sales 3% of the monthly sales 4% of the monthly sales $5,000 per month $ 800 per month $ 600 per month $ 500 per month Income taxes are estimated to be 30% of income from operations Prepare "budgeted income statement" for January