Scannell Corner Shoppe is a local convenience store with the following information: (Click the icon to view the information.) Read the requirements. Requirement 1. Prepare the sales budget for November and December. Boannell Corner Shoppe Sales Budget For the Months of November and December Data table 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 Comer Shoppe Cost of Goods sold, Inventory, and Purchases Budget For the Month of November and December Cost of goods sold Plus: Desired ending inventory November December October sales were $270,000. Sales are projected to go up by 15% in November (from the October sales) and another 20% 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 priceless the transaction fee) in the store's bank account daily Scannell Comer 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 $50,500. Expected monthly operating expenses include: Wages of store workers are $8,700 per month Utilities expense of $900 in November and $2,000 in December Property tax expense of $1,700 per month Property and liability insurance expense of $800 per month Depreciation expense of $5,500 per month Transaction fees, as stated above, are 5% of credit and debit card sales Total inventory required Less: Beginning inventory Purchases Requirements. Prepare the operating expense budget for November and December. Scannell Comer Shoppe Operating Expences Budget For the Month of November and December Wage expence Utilities expence Property tax expence November December Property and liability Insurance expence Depreciation expence Credit/Debit card feet expence Total operating expenses Requirement 4. Prepare the budgeted income statement for November and December. (Use the traditional format). Scannell Corner Shoppe Budgeted Income Statement For the Months of November and December Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses Net Income November December Print Done - X