3.2) A company obtains an annual revenue of R300 000. The annual cost of goods sold is R120 000. The expenses are made up as follows: Salaries = R50 000 Telephone and internet services = R8 000 Water and lights = R10 000 Stationery = R5 000 Bank charges = R500 Compile a budget for this company showing the Gross profit and Net profit both in Rands and as a percentage value. (6)