Stewart Comer 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 Stewart Corner Shoppe Sales Budget For the Months of November and December November December Cash sales 77000 96250 Credit sales 231000 288750 Total sales 308000 385000 Requirement 2. Prepare the cost of goods sold, inventory, and purchases budget for November and Decem Stewart Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget Enter any number in the edit fields and then continue to the next question. Stewart Corner Shoppe is a local convenience store with the following information: Click the icon to view the information.) Read the requirements w Requirement 2. Prepare the cost of goods sold, inventory, and purchases budget for November and Decembe Stewart Corner Shoppe Cost of Goods Sold, Inventory, and Purchases Budget For the Months of November and December November December Cost of goods sold Plus: Desired ending inventory Total inventory required Less: Beginning inventory Purchases Requirement 3. Prepare the operating expense budget for November and December. Enter any number in the edit fields and then continue to the next question. Stewart Corner Shoppe is a local convenience store with the following information: B Click the icon to view the information.) Read the requirements Requirement 3. Prepare the operating expense budget for November and December. Stewart Corner Shoppe Operating Expenses Budget For the Months of November aik December November December Wage expense Utilities expense Property tax expense Property and liability insuranse expense Depreciation expense Credit/Debit card foes expense Tatmintin Arene Enter any number in the edit fields and then continue to the next question. Stewart Corner Shoppe is a local convenience store with the following information: B Click the icon to view the information.) Read the requirements. Total operating expenses Requirement 4. Prepare the budgeted income statement for November and December. (Use the t Stewart Corner Shoppe Budgeted Income Staternent For the Months of November and December November December Sales revenue Less: Cost of goods sold Gross profit Less: Operating expenses Net Income Enter any number in the edit fields and then continue to the next question. Previous 1 of 4 (1 complete) Data Table . October sales were $280,000. Sales are projected to go up by 10% in November (from the October sales) and another 25% 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 2% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily. Stewart Corner Shoppe's gross profit is 20% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $18,000 + 10% of the next month's cost of goods sold. The September 30 inventory was $40,400. Expected monthly operating expenses include: Wages of store workers are $8,900 per month Utilities expense of $1,800 in November and $2,000 in December Property tax expense of $2,500 per month Property and liability insurance expense of $600 per month Depreciation expense of $4,500 per month th Print Done #2: Ch 7, 8, 9 1 of 4 (1 complete) A Data Table . Sales are projected to go up by 10% in November (from the October sales) and another 25% 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 2% transaction fee, and deposit the net amount (sales price less the transaction fee) in the store's bank account daily. Stewart Comer Shoppe's gross profit is 20% of its sales revenue. For the next several months, the store wants to maintain an ending merchandise inventory equal to $18,000 + 10% of the next month's cost of goods sold. The September 30 inventory was $40,400. Expected monthly operating expenses include: Wages of store workers are $8,900 per month Utilities expense of $1,800 in November and $2,000 in December Property tax expense of $2,500 per month Property and liability insurance expense of $600 per month Depreciation expense of $4,500 per month Transaction fees, as stated above, are 2% of credit and debit card sales . Print Done