A CouplantoformKarryNoKeyonApril1andexpectthefollowing:B 1. Invest in exchange for stock 2. Purchase delivery truck with cash with $0 salvage value and expected useful life in years 3. Sales increase per month Collections in month of sale Collections of remainder in following month of sale 4. Desired ending inventory (\% of next month's expected sales) Payments in month of purchase Payments of remainder in following month of purchase \begin{tabular}{|lr|} \hline$ & 100,000 \\ \hline$ & 60,000 \\ \hline & 10 \\ \hline & 2% \\ \hline & 77% \\ \hline & 23% \\ \hline$ & 20% \\ \hline & 10% \\ \hline & 90% \\ \hline \end{tabular} Karry No Key, Inc. Budgeted Contribution Margin Income Statement For the Quarter Ended June 30, 20X1 Per Unit Sales Revenue Variable Costs: Cost of Goods Sold Total Variable Costs Contribution Margin Fixed Costs: Other Operating Expenses Depreciation Expense Total Fixed Costs Operating Income 8 Karry No Key, Inc. Budgeted Statement of Cash Flows For the Quarter Ended June 30, 20X1 Operating Activities: Cash Paid for Inventory Cash Paid for Other Operating Expenses Total Cash from Operating Activities Investing Activity: Purchase of Equipment Financing Activity: Issue Stock Net Change in Cash Beginning Cash Balance Ending Cash Balance