Kling Company prepared the following budgeted income statement for the first quarter of 2018: (Click the icon to view the budgeted income statement.) Kling Company is considering two options. (Click the icon to view the options.) Read the requirements Requirement 1. Prepare budgeted income statements for both options, assuming both options begin in January and January sales remain $15,000. Round all calculations to the nearest dollar. Begin by preparing the budgeted income statement for Option 1. i Data Table Kling Company Budgeted Income Statement For the Quarter Ended March 31, 2018 Kling Company January Budgeted Income Statement Sales Revenue For the Quarter Ended March 31, 2018 Cost of Goods Sold January February March Total Gross Profit Net Sales Revenue (20% increase per month) $ 15,000 $ 18,000 $ 21,600 $ 54,600 S and A Expenses Cost of Goods Sold (60% of sales) 9,000 10,800 12,960 32,760 Operating Income Gross Profit 6,000 7,200 8 ,640 21,840 S and A Expenses ($2,200 + 10% of sales) 3,700 4,000 4,360 12,060 Enter any number in the edit fields and then click Check Answe Operating Income 2,300 3,200 4.280 9,780 Income Tax Expense (20% of operating income) 460 640 856 1,956 O remaining $ 1,840 $ 2,560 $ 3,424 $ 7,824 Net Income A parts Kling Company prepared the following budgeted income statement for the first quarter of 2018: (Click the icon to view the budgeted income statement.) Kling Company is considering two options. (Click the icon to view the options.) Read the requirements Requirement 1. Prepare budgeted income statements for both options, assuming both options begin in January and January sales remain $15,000. Round all calculations to the nearest dollar. Begin by preparing the budgeted income statement for Option 1. i Data Table Kling Company Budgeted Income Statement For the Quarter Ended March 31, 2018 Kling Company January Budgeted Income Statement Sales Revenue For the Quarter Ended March 31, 2018 Cost of Goods Sold January February March Total Gross Profit Net Sales Revenue (20% increase per month) $ 15,000 $ 18,000 $ 21,600 $ 54,600 S and A Expenses Cost of Goods Sold (60% of sales) 9,000 10,800 12,960 32,760 Operating Income Gross Profit 6,000 7,200 8 ,640 21,840 S and A Expenses ($2,200 + 10% of sales) 3,700 4,000 4,360 12,060 Enter any number in the edit fields and then click Check Answe Operating Income 2,300 3,200 4.280 9,780 Income Tax Expense (20% of operating income) 460 640 856 1,956 O remaining $ 1,840 $ 2,560 $ 3,424 $ 7,824 Net Income A parts Kling Company prepared the following budgeted income statement for the first quarter of 2018: (Click the icon to view the budgeted income statement.) Kling Company is considering two options. (Click the icon to view the options.) Read the requirements Requirement 1. Prepare budgeted income statements for both options, assuming both options begin in January and January sales remain $15,000. Round all calculations to the nearest dollar. Begin by preparing the budgeted income statement for Option 1. i Data Table Kling Company Budgeted Income Statement For the Quarter Ended March 31, 2018 Kling Company January Budgeted Income Statement Sales Revenue For the Quarter Ended March 31, 2018 Cost of Goods Sold January February March Total Gross Profit Net Sales Revenue (20% increase per month) $ 15,000 $ 18,000 $ 21,600 $ 54,600 S and A Expenses Cost of Goods Sold (60% of sales) 9,000 10,800 12,960 32,760 Operating Income Gross Profit 6,000 7,200 8 ,640 21,840 S and A Expenses ($2,200 + 10% of sales) 3,700 4,000 4,360 12,060 Enter any number in the edit fields and then click Check Answe Operating Income 2,300 3,200 4.280 9,780 Income Tax Expense (20% of operating income) 460 640 856 1,956 O remaining $ 1,840 $ 2,560 $ 3,424 $ 7,824 Net Income A parts Kling Company prepared the following budgeted income statement for the first quarter of 2018: (Click the icon to view the budgeted income statement.) Kling Company is considering two options. (Click the icon to view the options.) Read the requirements Requirement 1. Prepare budgeted income statements for both options, assuming both options begin in January and January sales remain $15,000. Round all calculations to the nearest dollar. Begin by preparing the budgeted income statement for Option 1. i Data Table Kling Company Budgeted Income Statement For the Quarter Ended March 31, 2018 Kling Company January Budgeted Income Statement Sales Revenue For the Quarter Ended March 31, 2018 Cost of Goods Sold January February March Total Gross Profit Net Sales Revenue (20% increase per month) $ 15,000 $ 18,000 $ 21,600 $ 54,600 S and A Expenses Cost of Goods Sold (60% of sales) 9,000 10,800 12,960 32,760 Operating Income Gross Profit 6,000 7,200 8 ,640 21,840 S and A Expenses ($2,200 + 10% of sales) 3,700 4,000 4,360 12,060 Enter any number in the edit fields and then click Check Answe Operating Income 2,300 3,200 4.280 9,780 Income Tax Expense (20% of operating income) 460 640 856 1,956 O remaining $ 1,840 $ 2,560 $ 3,424 $ 7,824 Net Income A parts