Great Start Preschool operates a not-for-profit moming preschool that operates eight months of the year. The preschool has 162 kids enrolled in its various programs. The preschool's primary expense is payroll. Teachers are paid a flat salary each of the eight months as follows: (Click the icon to view salary data.) (Click the icon to view additional information.) Requirements 1. Prepare Great Start Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1, create Great Start Preschool's budgeted income statement for the entire eight-month school year. You may group all operating expenses together. 3. Great Start Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? Requirement 1. Prepare Great Start Preschool's monthly operating budget. Round all amounts to the nearest dollar. (Round amounts to the nearest dollar.) More info 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 $4,040 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $860 per month over the eight-month school year. Variable monthly expenses (over the eight-month school year) for art supplies and other miscellaneous supplies are $8 per child. Revenue for the entire eight-month school year from tuition, registration fees, and the lunch program is projected to be $239,100