Consider this situation. You are the Finance Director for a small local business. This morning you reviewed this basic summary quarterly income statement. Your supervisor (the Company President) just stopped by for a visit to discuss this situation - and he was obviously not happy. After a short discussion with him, he wanted you to produce the following: . Your recommendation on a plan for reducing overall expenses by at least 15%, while at the same time increasing advertising expenditures by 500%. A simple budget (similar in structure to the summary quarterly income statement as shown below) that reflects your recommendation. Formulate this information in the form of a business memorandum using your findings from Purdue OWL. January February March Income Sales $4,000,000.00 $3,000,000.00 $2,000,000.00 Other Income $500.000.00 $300,000.00 $100,000,00 Total Income $4,500,000.00 $3,300,000,00 $2,100,000.00 Expenses Wages $3,500,000.00 $3,000,000.00 $2,000,000.00 Rent $15,000.00 $15,000.00 $15,000.00 Advertising $10,000,00 $10,000,00 $10,000.00 Electricity $1,000,00 $1,000.00 $1,000.00 Telephone $300.00 $300.00 $300.00 Internet $100.00 $100.00 $100.00 Water & Gas $1,000.00 $1,000.00 $1,000.00 Office Supplies $1,000.00 $1,000,00 $1,000.00 Insurance $15,000.00 $15,000.00 $15,000.00 Total Expenses $3,543,400.00 $3,043,400.00 $2.043,400.00 Net Income $956,600,00 $256,600.00 $56,600.00