Great Place Preschool operates a not-for-profit morning preschool that operates nine months of the year. The preschool has 165 kids enrolled in its various programs. The preschool's primary expense is payroll. Teachers are paid a flat salary each of the nine months as follows: (Click the icon to view salary data.) A (Click the icon to view additional information.) Requirements 1. Prepare Great Place Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1, create Great Place Preschool's budgeted income statement for the entire nine-month school year. You may group all operating expenses together. e Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? 3. Great piace Requirement 1. Prepare Great Place Preschool's monthly operating budget. Round all amounts to the nearest dollar. (Round amounts to the nearest dollar.) Great Place Preschool Budgeted Monthly Operating Expenses Teachers' salary 2-day program 3-day program 4-day program 5-day program Director salary Total salary expense Payroll tax expense Lease expense Fixed operating expenses Variable operating expenses Total monthly operating expenses Teachers of two-day program: $442 per month Teachers of three-day program: $648 per month Teachers of four-day program: $872 per month Teachers of five-day program: $1,050 per month Preschool director's salary: $1,250 per month Great Place Preschool has 7 two-day program teachers, 3 three-day program teachers, 7 four-day program teachers, and 4 five-day program teachers. The preschool also has a director. In addition to the salary expense, the preschool must pay federal payroll taxes (FICA taxes) in the amount of 7.65% of salary expense. The preschool leases its facilities from a local church, paying $4,060 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $920 per month over the nine-month school year. Variable monthly expenses (over the nine-month school year) for art supplies and other miscellaneous supplies are $7 per child. Revenue for the entire nine-month school year from tuition, registration fees, and the lunch program is projected to be $241,300