Citrus Girl Company (CGC) purchases quality citrus produce from local growers and sells the produce via the Intenet across the United States. To keep costs down, CGC maintains a warehouse, but no showroom or retal sales outlets. CGC has the following information for the second quarter of the year 1. Expected monthly sales for April, May, June, and July are $260,000, $230,000, $350,000, and $130,000, respectively 2. Cost of goods sold is 30 percent of expected sales CGC's desired ending inventory is 40 percent of the following month's cost of goods sold 4. Monthly operating expenses are estimated to be Salaries: $34,000 . Delivery expense: 8 percent of monthly sales . Rent expense on the warehouse: $6,500 Utilities:$1,300 Insurance:$240 Other expenses: $340 1. Compute the budgeted cost of purchases for each month in the second quarter Total cost of budgeted purchases 2. Complete the budgeted income statement for each month in the second quarter Budgeted Income Statement For the Month Ending April 30May 31 June 30