Prepare the companys budgeting plan for August.

Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.50 per car washed. Required: Prepare the company's planning budget for August. \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Lavage Rapide } \\ \hline \multicolumn{2}{|c|}{ Planning Budget } \\ \hline \multicolumn{2}{|c|}{ For the Month Ended August 31} \\ \hline P & \\ \hline Revenue & p \\ \hline \multicolumn{2}{|l|}{ Expenses: } \\ \hline Cleaning supplies & \\ \hline Electricity & P \\ \hline Maintenance & \\ \hline Wages and salaries & P \\ \hline Depreciation & P \\ \hline Rent & +8 \\ \hline Administrative expenses & \\ \hline Total expenses & . \\ \hline Net operating income & \\ \hline \end{tabular} Lavage Rapide owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: For example, electricity costs should be $1,400 per month plus $0.07 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.50 per car washed. Required: Prepare the company's planning budget for August. \begin{tabular}{|c|c|} \hline \multicolumn{2}{|c|}{ Lavage Rapide } \\ \hline \multicolumn{2}{|c|}{ Planning Budget } \\ \hline \multicolumn{2}{|c|}{ For the Month Ended August 31} \\ \hline P & \\ \hline Revenue & p \\ \hline \multicolumn{2}{|l|}{ Expenses: } \\ \hline Cleaning supplies & \\ \hline Electricity & P \\ \hline Maintenance & \\ \hline Wages and salaries & P \\ \hline Depreciation & P \\ \hline Rent & +8 \\ \hline Administrative expenses & \\ \hline Total expenses & . \\ \hline Net operating income & \\ \hline \end{tabular}