Corner Shoppe is a local convenience store with the following information:

Requirement 1. Prepare the sales budget for

November

and

December.

sales were $260,000.
	Sales are projected to go up by 8% in November (from the October sales) and another 25% in December (from the November sales) and then return to the October level in January.
	25% of sales are made in cash, while the remaining 75% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 4% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily.
	Slate Corner Shoppe's gross profit is 30% of its sales revenue.
	For the next several months, the store wants to maintain an ending merchandise inventory equal to $20,000 + 20% of the next month's cost of goods sold. The September 30 inventory was $56,400.
	Expected monthly operating expenses include:
		Wages of store workers are $8,600 per month
		Utilities expense of $1,700 in November and $1,400 in December
		Property tax expense of $2,600 per month
		Property and liability insurance expense of $1,200 per month
		Depreciation expense of $4,000 per month
		Transaction fees, as stated above, are 4% of credit and debit card sales

Prepare the following budgets for November and December:
1.	Sales budget
2.	Cost of goods sold, inventory, and purchases budget
3.	Operating expense budget
4.	Budgeted income statement

Slate Corner Shoppe
Sales Budget
For the Months of November and December
	November	December
Cash sales
Credit sales
Total sales