QUESTION 15 You plan on starting a lawn mowing business by investing $700 of your own money and purchasing $500 of equipment. You plan to work 290 hours per month and charge your customers $16 per hour. Your anticipated costs include: Advertising $76.00 per month Gas $1.20 per hour Depreciation $25.00 per month Assistant's Wages $8.00 per hour Miscellaneous Expenses $20.00 per month Calculate your monthly operating income on your budgeted contribution margin income statement QUESTION 16 Grass is Greener, Inc., will purchase equipment for $65,000 at the beginning of its first quarter of business. It expects to use the equipment for 10 years, after which it will be worthless. Calculate the amount of its Equipment, net of accumulated depreciation, on its budgoted balance sheet at the end of its first quarter