LearnCo Selling and Administrative Expenses Budget For the Year Ending December 31, 2012 Selling expenses: Sales salaries expense Advertising expense Travel expense Total selling expenses $45,000 15,000 5,400 $65,400 Administrative expenses: Officers' salaries expense $85,000 Office salaries expense 35,000 Office rent expense 26,000 Office supplies expense 6,400 Miscellaneous administrative expenses 1,600 Total administrative expenses Total selling and administrative expenses 154,000 $219,400 Budgeted Income Statement The budgeted income statement is prepared by integrating the sales budget, cost of goods sold budget, and selling and administrative expenses budget. Additional information that may be helpful in preparing the budgeted income statement are on the following Budgeted Income Statement Data Table Review the Budgeted Income Statement Data Table, then complete the budgeted income statement that follows the table. Round the computed amount for income tax to the nearest whole dollar Budgeted Income Statement Data Table Interest revenue for the year Interest expense for the year $2,000 $1,500