Q3. Smart Touch wants to earn $ 550,000 a month and expects to sell 20,000 e-learning services per month @ a price of $ 30 each. Over a period of last six months, it paid an average of $ 18,000 per month to its Internet service provider, and spent an additional $ 20,000 per month on salaries. Smart Touch spent 5% of its revenues for banner ads on other Web sites. Smart Touch also incurs $ 2.25 in server space expense for each e-learning service provided. Prepare a Budgeted Income Statement.