Budgets 2021-2025 Chapter 9 2021 2022 2023 2024 2022 Budget INCOME Changes Changes Changes (Inc/Dec%) (Inc/Dec%) (Inc/Dec%) Furniture Sales 100,000 7% 8% 10% Book Sales 65,000 3% -3% 3% Miscellaneous Sales 15,000 -4% -2% 5% Other Income 25,000 5% 10% -5% Total Income 205,000 COST OF SALES 45,000 See Notes See Notes See Notes Gross Profit 160,000 EXPENSES Salaries 35,000 See Notes See Notes See Notes Rent 12,000 2% 3% 1% Bad Debt Expenses 14,000 See Notes See Notes See Notes Travel 5,000 See Notes: See Notes See Notes: Accounting services 8,000 0% 2% 5% Printing 5,000 -4% -2% 3% Utilities 10,000 -5% 0% 1% Public Relations 9,000 6% 5% -3% National insurance 1,890 See Notes See Notes See Notes Bank charges 1000 See Notes See Notes See Notes Depreciation 2,000 10% 5% 3% Miscellaneous 4,000 21% 15% 8% Total Expenses 106,890 2023 Budget 2024 Budget 2,025 Budget NET (LOSS)/PROFIT 53,110 Using the information included herein, prepare a budget for 2022-2025. Use 2021 budget as your beginning base! Each year's budget is based on the preceeding year's amount. (e.g. 2017 accounts is based on 2016 accounts) Complete the Three Year Budget for Blot Blotty Corporation Budgetary Notes 1. National Insurance is 5.9% of Salary 2. Salaries is 20% of total income 3. Bank Charges is 10% of Miscellaneous Income 4. Bad Debt is 10% of Sales 5. Travel is 50% of Miscellaneous Sales 6. Cost of sales is 30% of total income