Revenues $840,000 Cost of Goods Sold $500,000 Gross Profit $340,000 Expenses: Administrative Costs $28,000 Selling Costs $18,000 Salaries $94,000 Rent $21,000 Total Expenses $161,000 Net Income $179,000 Salaries are comprised of $65,000 in manager's salaries and $29,000 in office employees' salaries Alpha Hardware is a small business and it does not intend to spend a lot of time and money on budgeting. The manager has determined the 2024 budgeted income statement should simply reflect the following predicted changes from the 2023 income statement: Revenues will increase by 1.5% Gross profit will increase by 4% Selling costs will decrease by 3% Managers' salaries will increase by 5% Administrative costs, office employees' salaries, and rent expense will remain the same