Lynch Locks makes bicycle locks. The budgeted selling price is $15.20 per lock, the variable cost is $9.80 per lock, and the budgeted fixed costs are $8,150 per month. Selling & Administrative costs amount to $10,500 for the month. Taxes are calculated at 20%. Prepare a budgeted Income Statement for an output level of 11,000 locks for the month ended April 30, 2021. Lynch Locks Income Statement For Month Ended April 30, 2021 Sales Revenue Cost of Goods Sold Gross Profit Selling & Administrative Expenses Net Income before Taxes Income Taxes Net Income SG Enterprises produces code writing tablets that sell for $140 each. Cost for making each tablet include: $44.00 for direct materials, $30.00 for direct labor, and $12.00 in overhead costs. Selling & Administrative costs amount to $21,600 for the month. Taxes are calculated at 30%. Prepare a budgeted Income Statement for an output level of 4,200 tablets for the month ending May 31, 2021 SG Enterprises Income Statement For Month Ended May 31, 2021 Sales Revenue Cost of Goods Sold Gross Profit Selling & Administrative Expenses Net Income before Taxes Income Taxes Net Income