Data table . . October sales were $270,000. Sales are projected to go up by 15% in November (from the October sales) and another 20% in December (from the November sales) and then return to the October level in January. 20% of sales are made in cash, while the remaining 80% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 5% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily. Slattery Corner Shoppe's gross profit is 25% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $12,000 + 20% of the next month's cost of goods sold. The September 30 inventory was $52,500. Expected monthly operating expenses include: Wages of store workers are $9,400 per month Utilities expense of $900 in November and $2,000 in December Property tax expense of $2,700 per month . Property and liability insurance expense of $1,000 per month Transaction fees, as stated above, are 5% of credit and debit card sales . Depreciation expense of $7,500 per month - X Requirements 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 -