Nice Start Preschool operates a not-for-profit moming preschool that operates eight months of the year. The preschool has 175 kids enrolled in its various programs. The preschool's primary expense is payroll. Teachers are paid a flat salary each of the eight months as follows: (Click the icon to view additional information.) (Click the icon to view salary data.) Requirements 1. Prepare Nice Start Preschool's monthly operating budget. Round all amounts to the nearest dollar. 2. Using your answer from Requirement 1, create Nice Start Preschool's budgeted income statement for the entire eight-month school year. You may group all operating expenses together. 3. Nice Start Preschool is a not-for-profit preschool. What might the preschool do with its projected income for the year? Requirement 1. Prepare Nice Start Preschool's monthly operating budget. Round all amounts to the nearest dollar. (Round amounts to the nearest dollar.) Nice Start Preschool Budgeted Monthly Operating Expenses Teachers' salary: 2-day program 3-day program 4-day program 5-day program Director salary Total salary expense Payroll tax expense Lease expense Budgeted Monthly Operating Expenses Teachers' salary: 2-day program 3-day program 4-day program 5-day program Director salary Total salary expense Payroll tax expense Lease expense Fixed operating expenses Variable operating expenses Total monthly operating expenses Salary data I $436 per month More info Teachers of two-day program: Teachers of three-day program: Teachers of four-day program: Teachers of five-day program: $642 per month $872 per month $1,060 per month Preschool director's salary: $1,300 per month Nice Start Preschool has 8 two-day program teachers, 2 three-day program teachers, 3 four-day program teachers, and 5 five-day program teachers. The preschool also has a director. 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 $4,060 every month it operates. Fixed operating expenses (telephone, internet access, bookkeeping services, and so forth) amount to $890 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 $7 per child. Revenue for the entire eight-month school year from tuition, registration fees, and the lunch program is projected to be $241,200. Print Done