Carol is a baker who owns a small bakery called Pie in the Sky that sells cherry pies. She has been debating adding new pies into her offerings, including blackberry and apple. Carol is preparing a budgeted income statement for April so she can compare budgeted net income, when selling just cherry pies, to budgeted net income when selling other types of pies as well. She has decided that she will be able to sell the pies for the following prices: Cherry, $10; Blackberry, $8; and Apple, $11. Carol will be able to produce 440 pies a month regardless of what kinds of pies she chooses to bake and sell. The pies have the following costs associated with them: Carol took out a $9,000 loan with an Annual Percentage Rate (APR) of 12% to begin her business, and she will have a flat tax rate of 21\%. Her monthly fixed selling, general, and administrative (SG\&A) expenses include the following: Assuming that Carol proceeds with selling only cherry pies, what would her gross margin and budgeted net income be for April? (Round answers to 2 decimal places, e.g. 52.75.) Gross margin $ Budgeted net income for April $ Attempts: 0 of 1 used