Activity-Using the following information, create a Budgeted Income Statement for Captain Crook Cruise Lines. Wharfage Expense Accounts Payable 98,000 797,880 Accounts Receivable 1,400,000 Advertising Expenses 8,450,000 Cash at Bank 450,900 Cost of Goods Sold 5,490,000 Sailing Revenue 80,000,000 Fuel Expenses 1,700,180 Mr. Crook, Drawings 1,080,000 Mr. Crook, Capital 131,066,500 Inventory 3,000,000 Loan (12 years) 19,000,000 Maintenance Expenses 1,006,000 Prepaid Insurance Ship Supplies Sales Revenue 10,000,000 Ships 204,000,000 Unearned Revenue 2,040,000 Wages Expense 15,000,300 29,000 1,200,000 Additional information: Captain Crook Cruise Lines anticipates 10% more travellers and intend to also increase cruise prices by 15%. Because there are 10% more travellers, they believe that they will sell 10% more on board the ship. (The cost of these will not increase as they have sufficient inventory from the previous financial period.) Fuel Expenses have gone up by 10%, however there is no intention to give staff a wage increase or to spend additional amounts on other expenses.