q 5 , praper balance sheet for q4

Question 4 Henry is preparing a set of budgets for the quarter ending December 2020. Information is under: Expected sales $280,000 Cost of goods sold $36.000 Electricity expenses $6,000 Advertising expenses $11,000 Sales staff salaries $90,000 Manager's salary $45,000 Bank charges $1000 Telecommunication $12,000 Workcover 4% of salaries Superannuation 9% of salaries Required: Prepare an income statement budget for the quarter ending December 2020 Note: When preparing the income statement, ensure you define all relevant cash, expenditu and revenue items relevant to budget