Miracle Car Wash located in Nashville, Tennessee has been providing interior and exterior car washes since 1960. Provided below is information regarding Miracle's costs: Fixed Cost per Month $ 1,300 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Cost per Car Washed $ 0.70 $ 0.05 $ 0.15 $ 0.30 $ 4,400 $ 8,400 $ 1,800 $ 1,800 $ 0.04 For example, electricity costs are $1,300 per month plus $0.05 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.30 per car washed. Required: Prepare the company's planning budget for August. Miracle Car Wash 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