In May $2027,$ the budget committee of Concord Stores assembles the following data in preparation of budgeted merchandise

purchases for the month of June.

Expected sales: June $$560,000,$ July $$672,000.$

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

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

The beginning inventory at June $1$ will be the desired amount. B $)$ prepare the budgeted multiple$-$step income statement for june through gross profit