Assignment #4 Script Mill has just completed their 5th year in business. They have reported the following information for December 2022. Budgeted Sales $ 560,000 Actual Sales 567,923 Purchases 294.823 Beginning Inventory 56,000 10 Ending Inventory (% of next months sal 10% 11 Admin Salaries 50,320 12 Marketing Expense (% of budgeted sale 5% 13 Sales Commissions (% of budgeted s. 2% 14 Rent Expense 7,500 15 Depreciation Expense 1,100 16 Utilities S 2,500 17 Taxes (% of income from operations) 15% 18 19 Script Mill has seen sales increase at a rate of 10% in the past. They anticipate 20 this trend to continue. Prepare a budgeted income statement - complete the 21 shaded squares. 23 Script Mill 24 Budgeted Income Statement For the Month Ending December 31, 2022 & & Sales 27 Costs of Goods Sold 28 29 30 Costs of Goods Available for Sale 31 32 Costs of Goods Sold 33 Gross Profit 34 Operating Expenses 35 36 37 38 39 40 41 Total Operating Expenses 42 Income From Operations 43 Income Tax Expense 44 Net Income (loss)