Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Fixed Cost Cost per Car per Month Washed $ 0.40 $ 1,200 $ 0.05 $ 0.20 $ 4,800 $ 0.40 $ 8,000 $ 2,100 $ 1,400 $ 0.02 For example, electricity costs are $1,200 per month plus $0.05 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.00 per car washed. Required: Prepare the company's planning budget for August. Lavage Rapide Planning Budget For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income