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 $1,000 Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Car Washed $ 0.50 $ 0.05 $ 0.20 $ 0.20 $ 4,500 $ 8,500 $1,900 $ 1,400 $ 0.03 For example, electricity costs are $1,000 per month plus $0.05 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.60 per car washed. Required: Prepare the company's planning budget for August. 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