Dep Interest 1,800 Income taxes = 25% of pretax income Required: March 20X7. Based on the above financial and operating information, prepare the operating budget for Problem 3 The Robinson Diner, managed by Ina Fay, needs your assistance in preparing its 20X8 operating budget. Since the diner is a sole proprietorship, it will not pay income taxes. She provides you with the following information: Food sales - estimated $600,000 Other revenue 5% of total revenue Expenses: Fixed Variable* Labor $100,000 10% Cost of sales 30% Supplies 3% Energy 10,000 4% Marketing 5,000 2% Maintenance 10,000 3% Property taxes 3,000 Depreciation 15,000 Property insurance 4,000 Rent 3,000 *As a percentage of food sales. Required: Prepare the operating budget for 20X8