Prepare a budgeted income statement for Netflix, Inc. for the quarter ending December 31, 2024.

Item	Amount ($)
Expected Sales	800,000
Expected Cost of Goods Sold	500,000
Salaries Expense	150,000
Rent Expense	50,000
Advertising Expense	40,000
Utilities Expense	25,000
Interest Expense	15,000
Income Tax Expense	30,000

Question:

Using the given projections, prepare a budgeted income statement for Netflix, Inc. for the quarter ending December 31, 2024. Calculate the projected Net Income and explain how the budgeting process can help in financial planning.