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: Cost per Fixed Cost per Month $ 1,200 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Car Washed $ 0.50 $ 0.06 $ 0.10 $ 0.30 $ 4,600 $ 8,100 $ 2,000 $1,500 $ 0.02 For example, electricity costs are $1,200 per month plus $0.06 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.40 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