Income Statement For the year ending December 31, 20X4 ACTUAL BUDGET 7 Revenues: $ 160,000 9 Service Fee Revenue 10 Total Revenues 11 12 Expenses: 13 Advertising Expense 14 Shipping Expense 15 Salaries Expense 16 Rent Expense 17 Utilities Expense $ 20,000 $ 12,000 $ 80,000 $ 32,000 $ 5,200 Total Expenses $ 149,200 21 Income: 22 Net Income $ 10,800 23 24 Operating Margin: Scenario & Questions Income Statement & Budget Balance Sheet Trial Ba