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 Cost per per Month Car Washed Cleaning supplies $9.40 Electricity $1,500 Maintenance $0.25 Wages and salaries $4,300 $0.30 Depreciation $8,200 Rent $2,200 Administrative expenses $1,400 $0.03 $9.06 For example, electricity costs are $1,500 per month plus $0.06 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 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