La Patisserie, a French bakery chain, is preparing its budget for the upcoming year. The following information is available:

• Expected Sales: €500,000
• Cost of Goods Sold: 60% of sales
• Operating Expenses: €100,000
• Depreciation Expense: €20,000
• Interest Expense: €10,000
• Income Tax Rate: 25%
• Desired Net Income: €50,000

a) Prepare a budgeted income statement for La Patisserie.

b) Calculate the budgeted gross profit margin and net profit margin.