Company pred betwing budget income statement to the 2024 the budged name Soya Con Req. budget come by prepeng the budgiad name statement for p Say Company both options ang both open bog in January dry man 815000 Round all For the Quarter Ended March 31, 2024 February 15.000 6000 1700 1360 January February Sales Revenue 15,000 Cost of Goods Sold 9.000 Gross Proft 6,000 Data table. S and A Expenses 4300 Operating Income 1,700 Income Tax Expense 340 Net Income $ 1,360 Soya Company Budgeted Income Statement For the Quarter Ended March 31, 2024 Net Sales Revenue (20% increase per month) January $ 15,000 $ February March Total 18,000 $ 21,600 $ 54,000 Cost of Goods Sold (00% of sales) 9,000 10.800 12.900 32,760 Gross Profit 6.000 7.200 8.640 21,840 S and A Expenses ($2,200 10% of sales) 3,700 4,000 4.360 12,000 Operating income 2,300 3,200 4,200 9:780 income Tax Expense (20% of operating income) 400 640 856 1,956 S 1.840 S 2,540 S 3,4245 7.824 Net Income Print Done February D Requirements 1. Prepare budgeted income statements for both options, assuming both options begin in January and January sales remain $15,000. Round all calculations to the nearest dollar 2. Which option should Soya choose? Explain your reasoning - X 600 Net Co Print Done 60 40 Gro Sa 60 Operating Income 2,300 3,200 4,280 9,780 Income Tax Expense (20% of operating income) 460 640 856 1,956 - X