4. Budgeted income statement INCOME STATEMENT Amount Amount Opening Stock 81.000.00 Sales $ 3,660,000.00 Purchases $ 1,840,500.00 Closing Stock 66,000.00 Gross Proft c/d $ 1,840,500.00 $ 3,762,000.00 $ 3,726,000.00 Gross Proft b/d $ 1,804,500.00 Salaries 515,000.00 Overhead 90.000.00 Sales and Amin Costs 780.000.00 Bad Debts 73.200.00 Net Proft 346,300.00 $ 1,804,500.00 $ 1,804,500.00