Please answer the question below concerning the following provided accounting records:

1. Break-down and explain the components of the cash budget for three months, using the data from the report as examples. 2. Break-down and explain the components of the budgeted income statement, using the data from the report as examples. \begin{tabular}{|l|r|r|r|} \hline & \multicolumn{2}{|c|}{ Sales Budget } \\ \hline & \multicolumn{1}{|c|}{ April } & \multicolumn{1}{|c|}{ May } & \multicolumn{1}{|c|}{ Quarter } \\ \hline Budgeted Unit Sales & 65,000 & 100,000 & 50,000 \\ Multiply by selling price per unit & 10 & 215,000 \\ \hline Total Sales & 650,000 & 10 & 1,000,000 \\ \hline \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline Sales & & 2,150,000 \\ Va riable Expense: & 860,000 & \\ Merchandise Purchase & 86,000 & 946,000 \\ Commission (Sales *\%) & & 1,204,000 \\ Total Variable expense & & \\ \hline Contribution Margin & 600,000 & \\ Fixed Expenses: & 54,000 & \\ Advertising & 318,000 & \\ Rent & 21,000 & \\ Salaries & 9,000 & 1,044,000 \\ Utilities & 42,000 & (14000 \\ Insurance & & 160,000 \\ Depreciation & & 5,300 \\ \hline Total Fixed Expenses & & 154,700 \\ \hline Net Operating Income & & \\ \hline \hline Less: Interest Expense & & \\ \hline Net Income & & \\ \hline \hline \end{tabular} 1. Break-down and explain the components of the cash budget for three months, using the data from the report as examples. 2. Break-down and explain the components of the budgeted income statement, using the data from the report as examples. \begin{tabular}{|l|r|r|r|} \hline & \multicolumn{2}{|c|}{ Sales Budget } \\ \hline & \multicolumn{1}{|c|}{ April } & \multicolumn{1}{|c|}{ May } & \multicolumn{1}{|c|}{ Quarter } \\ \hline Budgeted Unit Sales & 65,000 & 100,000 & 50,000 \\ Multiply by selling price per unit & 10 & 215,000 \\ \hline Total Sales & 650,000 & 10 & 1,000,000 \\ \hline \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ Income Statement } \\ \hline Sales & & 2,150,000 \\ Va riable Expense: & 860,000 & \\ Merchandise Purchase & 86,000 & 946,000 \\ Commission (Sales *\%) & & 1,204,000 \\ Total Variable expense & & \\ \hline Contribution Margin & 600,000 & \\ Fixed Expenses: & 54,000 & \\ Advertising & 318,000 & \\ Rent & 21,000 & \\ Salaries & 9,000 & 1,044,000 \\ Utilities & 42,000 & (14000 \\ Insurance & & 160,000 \\ Depreciation & & 5,300 \\ \hline Total Fixed Expenses & & 154,700 \\ \hline Net Operating Income & & \\ \hline \hline Less: Interest Expense & & \\ \hline Net Income & & \\ \hline \hline \end{tabular}