Slate 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. Slate Corner Shoppe Sales Budget Data Table For the Months of November and December November December Cash sales Credit sales Total sales October sales were $300,000. 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 2% 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 30% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $13,000 + 10% of the next month's cost of goods sold. The September 30 inventory was $34,000. Expected monthly operating expenses include: Wages of store workers are $8,500 per month Utilities expense of $1,600 in November and $2,400 in December Property tax expense of $2,600 per month Property and liability insurance expense of $300 per month Depreciation expense of $4,500 per month Transaction fees, as stated above, are 2% of credit and debit card sales Enter any number in the edit fields and then click Chec Help Me Solve This Video Get More Slate 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. - Slate Corner Shoppe Sales Budget For the Months of November and December November December Requirements Cash sales Credit 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 Total sales Print Done Enter any number in the edit fields and then click Check