cest Lead! Inc. offers executive coaching services to small business owners. Lead's operating profits average 19 percent of revenues and its marketing and administrative costs average 25 percent of the cost of services sold. Required: Lead! Inc. expects revenues to be $188,000 for April. Prepare an income statement for April for Lead! Inc. assuming its expectations are met. Sales revenue LEAD!, INC. Income Statement For the Month Ended April 30 Cost of services sold Gross margin Marketing and administrative costs Operating profit 188,000