Scannell Corner Shoppe is a local convenience store with the following information: (Click the icon to view the information.) Read the requirements. Data table Requirement 1. Prepare the sales budget for November and December. Scannell Corner Shoppe Sales Budget For the Months of November and December Cash sales Credit sales Total sales November December Requirement 2. Prepare the cost of goods sold, inventory, and purchases budget for November and December. Scannell Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December October sales were $220,000. Sales are projected to go up by 15% in November (from the October sales) and another 30% in December (from the November sales) and then return to the October level in January. 20% of sales are made in cash, while the remaining 80% are paid by credit or debit cards. The credit card companies and banks (debit card issuers) charge a 5% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily. Scannell Corner Shoppe's gross profit is 25% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $10,000+20% of the next month's cost of goods sold. The September 30 inventory was $43,000. Expected monthly operating expenses include: Wages of store workers are $8,600 per month Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases November December Utilities expense of $900 in November and $1,900 in December Property tax expense of $1,800 per month Property and liability insurance expense of $600 per month Depreciation expense of $8,500 per month Transaction fees, as stated above, are 5% of credit and debit card sales Print Done - X