In May $2022,$ the budget committee of Kingbird Stores assembles the following data for preparing the merchandise purchases budget for the month of June:

Expected sales: June $$486,000$; July $$628,000.$

Cost of goods sold is expected to be $75\%$ of sales.

Desired ending merchandise inventory is $30\%$ of the following month's cost of goods sold.

The beginning inventory at June $1$ will be the desired amount.

prepare the budget income statement for june through gross profit on sales