Nice Place Preschool operates a not-for-profit moming preschool that operates eight months of the year. The preschool has 170 kids enrolled in its various programs. The preschool's primary expense is payrol. Teachers are paid a flat salary each of the eight months as follows: (Click the icon to view salary data.) (1) (Click the icon to view additional information.) Requirements 1. Prepare Nice Place Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1, create Nice Place Preschool's budgeted income statement for the entire eight-month school year, You may group all operating expenses together. 3. Nice Place Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? Requirement 1. Prepare Nice Place Preschool's monthly operating budget. Round all amounts to the nearest dollar, (Round amounts to the nearest dollar.) Nice Place Preschool Budgeted Monthly Operating Expenses Teachers' salary: 2-day program 3-day program 4-day program 5-day program Director salary Total salary expense Payroli tax expense Lease expense Foxed operating expenses Variable operating expenses Total monthly operating expenses Salary data Teachers of two-day program: Teachers of three-day program: Teachers of four-day program: Teachers of five-day program: Preschool director's salary: Nice Place Preschool has 9 two-day rogram teachers, 3 three-day program teachers, 6 four-day program teachers, and 4 five-day program teachers. The preschool also has a director. More info In addition to the salary expense, the preschool must pay federal payroll taxes (FICA taxes) in the amount of 7.65% of salary expense. The preschool leases its facilities from a local church, paying $4,080 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $880 per month over the eight-month school year. Variable monthly expenses (over the eight-month school year) for art supplies and other miscellaneous supplies are $8 per child. Revenue for the entire eight-month school year from tuition, registration fees, and the lunch program is projected to be $235,000