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Script Mill has just completed their 5th year in business. They have reported the following information for December 2022. Budgeted Sales 560,000 Actual Sales 567,923

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Script Mill has just completed their 5th year in business. They have reported the following information for December 2022. Budgeted Sales 560,000 Actual Sales 567,923 Purchases 294,823 Ending Inventory (% of next months sales) 10% Admin Salaries $ 50,320 Marketing Expense (% of sales) 5% Sales Commissions (% of sales) 2% Rent Expense 7,500 Depreciation Expense $ 1,100 Utilities $ 2,500 Taxes (% of income before taxes) 15% Script Mill has seen sales increase at a rate of 10% in the past. They anticipate this trend to continue. Prepare a budgeted income statement - complete the shaded squares. Script Mill Budgeted Income Statement For the Month Ending December 31, 2022 Sales $ 567,923 Costs of Goods Sold $ 294,824 Costs of Goods Available for Sale Costs of Goods Sold Operating Expenses Total Operating Expenses Income From Operations Income Tax Expense

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