s Citrus Girl Company (CGC) quality citrus produce from local growers and sells the produce via the Intemet across the United States. To keep costs down, CGC maintains a or retail sales outlets. CGC has the following information for the second quarter of the year 1. Expected monthly sales for April, May, June, and July are $160,000, $130,000, $250,000, and $70,000, respectively 2. Cost of goods sold is 50 percent of expected sales 3. CGC's desired ending inventory is 60 percent of the following month's cost of goods sold Salaries: $35,000 . Rent expense on the warehouse: $3,500 - Utlities: $700 $360 e Other expenses: $460 1. Compute the budgeted cost of purchases for each month in the second quarter May Total cost of bu 2. Complete the budgeted income statement for each month in the second quarter. CITRUS GIRL COMPANY Budgeted Income Statement For the Month Ending April 30 May 31 June 30 Budgeted Gross Margin Budgeted Net Operating Income