Slate Corner Shoppe is a local convenience store with the following? information:

October sales were $290,000

Sales are projected to go up by 12?% in November (from the October ?sales) and another 20?% in December ?(from the November ?sales) and then return to the October level in January.

25% of sales are made in? cash, while the remaining 75?% 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.??

Slate Corner? Shoppe's gross profit is 40?% of its sales revenue.???

For the next several? months, the store wants to maintain an ending merchandise inventory equal to $19,000 ?+ 25?% of the next? month's cost of goods sold. The September 30 inventory was $62,500.

Expected monthly operating expenses? include:

Wages of store workers are $9,400 per month

Utilities expense of $1,400 in November and $2,000 in December

Property tax expense of $2,700 per month

Property and liability insurance expense of $600 per month

Depreciation expense of $5,500 per month

Transaction? fees, as stated? above, are 5?% of credit and debit card sales

Prepare the following budgets for November and December

1. Sales Budget

2. Cost of goods sold, inventory, and purchases budget

3. Operating expense budget

4. Budgeted income statement