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 Cost per Car Washed $ 0.60 $ 0.08 $ 0.20 $ 0.20 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses $1,400 $5,000 $ 8,400 $ 2,000 $ 1,700 $ 0.03 For example, electricity costs are $1,400 per month plus $0.08 per car washed. The company expects to wash 8,500 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