E-Lan Electronics Budgeting Project Step3 (page 2) E-Lan Electronics expects the following Selling and Administrative Expenses Salaries $ 15.000 Rent 53 17.000 Advertising :1; 82.000 Depreciation $ 18,500 Other :5 6.700 $ 12% annual rate. Paid on last months ending balance of Credit Line 1. Prepare a Selling and Administrative Budget 2. Prepare a capital expenditures budget 3. Prepare a cash budget 4. What Problems exists in regards to the operating line? What is the cause? What should be done to remedy the situation? How much would it save the company going forward? 5. Prepare a budgeted Income Statement (Cost of Goods Sold should be calculated based on estimated costs of production for the quarter.)